CBRE (CBRE) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - CBRE Group reported $9.04 billion in revenue for Q3 2024, a year-over-year increase of 14.8% [1] - The EPS for the same period was $1.20, compared to $0.72 a year ago, with a surprise of +13.21% over the consensus estimate [1] Revenue Performance - Investment Management AUM reached $148.3 billion, exceeding the average estimate of $143.25 billion [1] - Net revenue was $5.32 billion, surpassing the four-analyst average estimate of $5.08 billion, reflecting a year-over-year change of +20% [1] - Total revenue from Real Estate Investments was $302 million, compared to the estimated $244.78 million, marking a +43.8% change year-over-year [1] - Net revenue from Global Workplace Solutions was $2.65 billion, slightly below the average estimate of $2.66 billion, with a year-over-year increase of +18.9% [1] - Net revenue from Advisory Services was $2.37 billion, exceeding the average estimate of $2.19 billion, representing a +19% year-over-year change [1] Additional Revenue Metrics - Revenue from pass-through costs recognized as revenue was $3.72 billion, compared to the $3.93 billion average estimate, showing a +8.2% year-over-year change [1] - Total revenue from Advisory Services was $2.40 billion, surpassing the average estimate of $2.21 billion, with a +19% year-over-year change [1] - Net revenue from loan servicing was $81 million, below the estimated $85.77 million, with a +0.4% year-over-year change [1] - Net revenue from advisory leasing was $984 million, exceeding the average estimate of $902.13 million, reflecting a +18.9% year-over-year change [1] Stock Performance - CBRE shares returned +0.6% over the past month, compared to the Zacks S&P 500 composite's +1.5% change [1] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [1]