LOS ANGELES (AP) _ CBRE Group Inc. (CBRE) on Wednesday reported first-quarter profit of $164.4 million.
On a per-share basis, the Los Angeles-based company said it had profit of 48 cents. Earnings, adjusted for one-time gains and costs, were 79 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The provider of real estate investment management services posted revenue of $5.14 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $5.1 billion.
CBRE shares have increased 25% since the beginning of the year. The stock has climbed 8% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBRE at https://www.zacks.com/ap/CBRE