CBRE Group, Inc. Q4 Profit Increases, beats estimates

(RTTNews) - CBRE Group, Inc. (CBRE) reported earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $691.99 million, or $2.04 per share. This compares with $313.77 million, or $0.93 per share, in last year's fourth quarter.

Excluding items, CBRE Group, Inc. reported adjusted earnings of $742.03 million or $2.19 per share for the period.

Analysts on average had expected the company to earn $1.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.7% to $8.55 billion from $6.91 billion last year.

CBRE Group, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $691.99 Mln. vs. $313.77 Mln. last year. -EPS (Q4): $2.04 vs. $0.93 last year. -Analyst Estimate: $1.78 -Revenue (Q4): $8.55 Bln vs. $6.91 Bln last year.