CBRE earnings beat analysts’ expectations

LOS ANGELES — CBRE Group Inc. on Wednesday reported first-quarter profit of $150.3 million.

The Los Angeles-based company said it had net income of 44 cents per share. Earnings, adjusted for one-time gains and costs, came to 54 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The provider of real estate investment management services posted revenue of $4.67 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $3.34 billion.

CBRE shares have risen 5.5 percent since the beginning of the year. The stock has risen 26 percent in the last 12 months.