CBRE: Q4 Earnings Snapshot

Associated Press Finance
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DALLAS (AP) — DALLAS (AP) — CBRE Group Inc. (CBRE) on Thursday reported fourth-quarter earnings of $477 million.

The Dallas-based company said it had profit of $1.55 per share. Earnings, adjusted for one-time gains and costs, came to $1.38 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The provider of real estate investment management services posted revenue of $8.95 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $8.62 billion.

For the year, the company reported profit of $986 million, or $3.15 per share. Revenue was reported as $31.95 billion.

CBRE shares have dropped almost 7% since the beginning of the year. The stock has decreased slightly more than 2% in the last 12 months.

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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

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