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CBRE: 4Q Earnings Snapshot

LOS ANGELES (AP) _ CBRE Group Inc. (CBRE) on Wednesday reported fourth-quarter earnings of $393.8 million.

On a per-share basis, the Los Angeles-based company said it had profit of $1.15. Earnings, adjusted for one-time gains and costs, came to $1.21 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The provider of real estate investment management services posted revenue of $6.29 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $5.94 billion.

For the year, the company reported profit of $1.06 billion, or $3.10 per share. Revenue was reported as $21.34 billion.

CBRE shares have climbed 19 percent since the beginning of the year. The stock has increased 11 percent 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