CBRE Group, Inc. Q1 Profit Increases, beats estimates

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

The company's earnings came in at $126 million, or $0.41 per share. This compares with $117 million, or $0.37 per share, in last year's first quarter.

Excluding items, CBRE Group, Inc. reported adjusted earnings of $241 million or $0.78 per share for the period.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.2% to $7.94 billion from $7.41 billion last year.

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

-Earnings (Q1): $126 Mln. vs. $117 Mln. last year. -EPS (Q1): $0.41 vs. $0.37 last year. -Revenue (Q1): $7.94 Bln vs. $7.41 Bln last year.

-Guidance: Full year EPS guidance: $4.25 to $4.65