CBRE posts upbeat quarterly results on higher leasing, property sales
Feb 13 (Reuters) - Real estate services provider CBRE Group CBRE.N reported better-than-expected fourth-quarter profit and revenue on Thursday, helped by robust demand for its leasing and property sales businesses.
The company's quarterly office leasing revenue rose worldwide, led by a 28% increase in the United States, as a healthy economic outlook and more employees returning to office encouraged corporates to make long-term decisions.
"Growth was very strong for both property sales and loan origination activity around the world," CBRE said in a statement.
The company posted adjusted earnings per share of $2.32 for the fourth quarter, above analysts' estimates of $2.22, according to data compiled by LSEG.
Its revenue for the quarter ended December 31 rose 16.2% from a year ago to $10.40 billion. Analysts on average had estimated revenue at $10.29 billion.
The Dallas, Texas-based company expects 2025 core profit between $5.80 per share and $6.10 per share, compared with expectations of $6.03 per share.
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