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DALLAS (AP) — DALLAS (AP) — CBRE Group Inc. (CBRE) on Thursday reported first-quarter profit of $163 million.
The Dallas-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring costs, came to 86 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The provider of real estate investment management services posted revenue of $8.91 billion in the period, matching Street forecasts.
CBRE shares have decreased 7% since the beginning of the year. The stock has increased 40% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBRE at https://www.zacks.com/ap/CBRE