News
CBRE Group Q2 2024 Earnings: EPS misses expectations
CBRE Group (NYSE:CBRE) Second Quarter 2024 Results
Main financial results
-
Revenue: $8.39 billion (up 8.7% from Q2 2023).
-
Net income: US$130.0 million (down 35% from Q2 2023).
-
Profit margin: 1.5% (down from 2.6% in Q2 2023). The margin reduction was driven by higher expenses.
-
EPS: US$0.42 (down US$0.65 in 2Q 2023).
earnings-and-revenue-growth
All numbers shown in the chart above are for the trailing 12 month period (TTM)
CBRE Group EPS fails to meet expectations
Revenue was in line with analysts’ estimates. Earnings per share (EPS) missed analysts’ estimates by 30%.
Looking ahead, revenue is expected to grow 8.9% per year on average over the next 3 years, compared to a forecast growth of 11% for the US real estate sector.
Performance of the American real estate.
The company’s shares are up 13% over the past week.
Risk analysis
We should say we discovered 1 warning sign for CBRE Group that you should know before investing here.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock and does not take into account your objectives or financial situation. Our aim is to bring you long-term focused analysis, driven by fundamental data. Please note that our analysis may not take into account the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, send an email editorial-team@simplywallst.com