DALLAS (AP) — DALLAS (AP) — CBRE Group Inc. (CBRE) on Thursday reported fourth-quarter net income of $416 million.
The Dallas-based company said it had profit of $1.39 per share. Earnings, adjusted for non-recurring costs, were $2.73 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.66 per share.
The provider of real estate investment management services posted revenue of $11.63 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $11.51 billion.
For the year, the company reported profit of $1.16 billion, or $3.85 per share. Revenue was reported as $40.55 billion.
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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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