UPDATE: CBRE Group Posts Upbeat Q4 Earnings

CBRE Group Inc 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.