FX.co ★ CBRE Group, Inc. Q1 Profit Increases, beats estimates

CBRE Group, Inc. recently reported a growth in profit for its first quarter compared to last year, surpassing Wall Street estimates. The company earned a profit of $126 million, or $0.41 per share, which marks an increase from their prior earnings of $117 million, or $0.37 per share, during the same period last year.

Additionally, after adjustments, CBRE Group disclosed its adjusted earning at $241 million or $0.78 per share for this period. This record was higher than the average forecast by analysts, who expected the company to earn around $0.68 per share; this estimation typically excludes special items, according to data compiled by Thomson Reuters.

Further, the company's quarterly revenue witnessed a 7.2% rise to $7.94 billion from $7.41 billion in the year-ago period. CBRE Group also provided a full-year earnings per share guidance of between $4.25 and $4.65.

Briefly, the company's GAAP earnings in comparison with last year were:

- Earnings (Q1): $126 million, up from $117 million.

- Earnings Per Share (Q1): $0.41, up from $0.37.

- Revenue (Q1): $7.94 billion, up from $7.41 billion.