CBRE Group Q2 Adj. Profit Meets Estimate - Quick Facts

(RTTNews) - CBRE Group, Inc. (CBG) Tuesday reported first-quarter net income attributable to the company of $105.5 million or $0.32 per share, up from $69.9 million or $0.21 per share in the same period last year.

Adjusted earnings for the quarter were $118.7 million or $0.36 per share, up from $101.8 million or $0.31 per share in the prior year quarter. On average, six analysts polled by Thomson Reuters expected the company to earn $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 22 percent to $2.13 billion from $1.74 billion last year, while six analysts expected revenues of $2.11 billion.

In light of CBRE's strong performance in the first half of 2014, with adjusted earnings per share up 30% and an active transactional pipeline, the company now expects full-year earnings per share, as adjusted, to be in the range of $1.60 to $1.65, an increase of $0.05 per share from its initial guidance.