CBRE posts upbeat quarterly results on higher leasing, property sales

CBRE

13/02/2025 13:52

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.

 (Reporting by Rupali Chaudhary in Bengaluru; Editing by Sahal
Muhammed)
 ((Rupali.Chaudhary@thomsonreuters.com;))