CBRE second-quarter operating profit rises 31 pct
NEW YORK, July 31
NEW YORK, July 31 (Reuters) - CBRE Group Inc, one of the largest global commercial real estate services providers, said second-quarter earnings rose 31 percent, as strength in the Americas offset a decline in revenue from Europe.
Excluding $12.1 million in charges primarily related to its acquisition of ING's real estate investment management business, CBRE reported a profit of $88 million, or 27 cents per share, compared with $67 million, or 21 cents per share in the second quarter of 2011, the company said on Tuesday.
Revenue for the quarter rose 13 percent to $1.60 billion.
Analysts on average had forecast 26 cents per share on revenue of $ 1 .57 b illion, according to Thomson Reuters I/B/E/S.