UPDATE 1-CB Richard Ellis fourth-quarter results beat Street

* Q4 EPS 21 cents

* Revenue rises 1.6 percent

NEW YORK Feb 3 (Reuters) - CB Richard Ellis Group Inc (CBG.N), one of the world's largest commercial real estate service companies, reported on Wednesday fourth-quarter results that beat Wall Street forecasts, as all regions reported higher revenue.

Earnings swung to a net profit of $64.3 million, or 21 cents per share, from the previous year's loss of $1.1 billion, or $4.70 cents per share, that was driven by a huge noncash goodwill charge and other impairments.

Excluding one-time charges, the company earned 28 cents per share, beating analysts' average forecast of 18 cents per share, according to Thomson Reuters I/B/E/S.

Revenue for the Los Angeles-based company rose to $1.30 billion from $1.28 billion, while analysts had forecast $1.16 billion.

"Fourth-quarter results were by far our best for the year, and we achieved quarterly year-over-year top-line growth for the first time in seven quarters," Brett White, chief executive, said in a statement.

White said that market conditions improved, especially in Asia Pacific and parts of Europe, where results were strongest.

CB Richard Ellis said that for 2010 revenue should grow 6 percent to 8 percent and earnings should grow 15 percent to 20 percent per share.

"While it is still far too early to describe 2010 as a normal operating environment, the company's initial expectation is that 2010 performance may be within these more typical ranges," White said.

Shares of CB Richard Ellis closed up 1.5 percent at $13.69 on the New York Stock Exchange. In thin after-hours trade, share fell to $13.50.

(Reporting by Ilaina Jonas; Editing by Phil Berlowitz)