CBRE Group, Inc. (CBG: Quote) reported that its second-quarter GAAP net income totaled $75.9 million, or $0.23 per share, up from $61.2 million, or $0.19 per share in the year ago quarter.
Excluding charges, net income totaled $88.0 million, or $0.27 per share, up from $67.0 million, or $0.21 per share, in the second quarter of 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.
Selected charges, which primarily related to the ING REIM businesses acquired in 2011, totaled $12.1 million and $5.8 million for the three months ended June 30, 2012 and 2011, respectively.
Revenue for the quarter totaled $1.6 billion, an increase of 13% from $1.4 billion in the second quarter of 2011. Five analysts had consensus revenue estimate of $1.57 billion for the quarter.
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by RTT Staff Writer
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