UPDATE: CBRE Group Posts Upbeat Q4 Earnings
CBRE Group Inc (NYSE: CBG) reported a strong rise in its fourth-quarter earnings.
For the year, CBRE Group expects earnings of $1.40 to $1.45 per share, versus estimates of $1.36 per share.
CBRE Group's quarterly profit surged to $173 million, or $0.53 per share, from $79.8 million, or $0.25 per share, in the year-ago period. Excluding one-time items, its adjusted earnings rose to $0.55 from $0.46 per share.
Its revenue climbed 14% to $2.01 billion. However, analysts were expecting earnings of $0.49 per share on revenue of $1.88 billion.
CBRE Group shares gained 3.43% to $22.60 in after-hours trading.
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