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CBRE (CBRE) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2024, CBRE Group (CBRE - Free Report) reported revenue of $8.39 billion, up 8.7% over the same period last year. EPS came in at $0.81, compared to $0.82 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.52 billion, representing a surprise of -1.52%. The company delivered an EPS surprise of +17.39%, with the consensus EPS estimate being $0.69.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CBRE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Investment Management AUM: $142.5 billion versus $143.28 billion estimated by two analysts on average.
Total revenue- Real Estate Investments: $256 million compared to the $242.32 million average estimate based on three analysts. The reported number represents a change of +0.1% year over year.
Net revenue: $4.97 billion compared to the $4.82 billion average estimate based on three analysts. The reported number represents a change of +11% year over year.
Net revenue- Global Workplace Solutions: $2.55 billion compared to the $2.48 billion average estimate based on three analysts. The reported number represents a change of +15.5% year over year.
Net revenue- Advisory Services: $2.20 billion versus the three-analyst average estimate of $2.10 billion. The reported number represents a year-over-year change of +8.7%.
Net revenue- Property and advisory project management: $532 million versus $505.06 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +15.9% change.
Revenue- Pass through costs also recognized as revenue- Advisory Services: $23 million versus $22.41 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.5% change.
Revenue- Corporate, Other and Eliminations: -$3 million compared to the -$4.29 million average estimate based on two analysts. The reported number represents a change of -15% year over year.
Revenue- Pass through costs also recognized as revenue- Global Workplace Solutions: $3.40 billion versus the two-analyst average estimate of $3.60 billion. The reported number represents a year-over-year change of +5.5%.
Total revenue- Global Workplace Solutions: $5.43 billion versus $6.03 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Total revenue- Advisory Services: $2.04 billion versus the two-analyst average estimate of $2.14 billion. The reported number represents a year-over-year change of 0%.
Revenue- Pass through costs also recognized as revenue: $3.42 billion versus the two-analyst average estimate of $3.74 billion. The reported number represents a year-over-year change of +5.5%.
Shares of CBRE have returned +11.5% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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CBRE (CBRE) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2024, CBRE Group (CBRE - Free Report) reported revenue of $8.39 billion, up 8.7% over the same period last year. EPS came in at $0.81, compared to $0.82 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.52 billion, representing a surprise of -1.52%. The company delivered an EPS surprise of +17.39%, with the consensus EPS estimate being $0.69.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CBRE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Investment Management AUM: $142.5 billion versus $143.28 billion estimated by two analysts on average.
- Total revenue- Real Estate Investments: $256 million compared to the $242.32 million average estimate based on three analysts. The reported number represents a change of +0.1% year over year.
- Net revenue: $4.97 billion compared to the $4.82 billion average estimate based on three analysts. The reported number represents a change of +11% year over year.
- Net revenue- Global Workplace Solutions: $2.55 billion compared to the $2.48 billion average estimate based on three analysts. The reported number represents a change of +15.5% year over year.
- Net revenue- Advisory Services: $2.20 billion versus the three-analyst average estimate of $2.10 billion. The reported number represents a year-over-year change of +8.7%.
- Net revenue- Property and advisory project management: $532 million versus $505.06 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +15.9% change.
- Revenue- Pass through costs also recognized as revenue- Advisory Services: $23 million versus $22.41 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.5% change.
- Revenue- Corporate, Other and Eliminations: -$3 million compared to the -$4.29 million average estimate based on two analysts. The reported number represents a change of -15% year over year.
- Revenue- Pass through costs also recognized as revenue- Global Workplace Solutions: $3.40 billion versus the two-analyst average estimate of $3.60 billion. The reported number represents a year-over-year change of +5.5%.
- Total revenue- Global Workplace Solutions: $5.43 billion versus $6.03 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
- Total revenue- Advisory Services: $2.04 billion versus the two-analyst average estimate of $2.14 billion. The reported number represents a year-over-year change of 0%.
- Revenue- Pass through costs also recognized as revenue: $3.42 billion versus the two-analyst average estimate of $3.74 billion. The reported number represents a year-over-year change of +5.5%.
View all Key Company Metrics for CBRE here>>>Shares of CBRE have returned +11.5% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.