CBRE Reports Strong Q4 Earnings, Exceeding Expectations
Dallas, Texas - CBRE Group Inc. (CBRE) announced a fourth-quarter profit of $487 million, translating to $1.58 per share. Adjusted earnings reached $2.32 per share, surpassing analyst estimates of $2.21 per share.
CBRE's revenue for the period totaled $10.4 billion, also exceeding expectations of $10.28 billion. For the full year, the company reported profit of $968 million ($3.14 per share) and revenue of $35.77 billion.
Looking ahead, CBRE projects full-year earnings within the range of $5.80 to $6.10 per share.
CBRE's shares have seen a 7% increase since the start of the year and a 59% surge over the past 12 months.