CBRE Group, Inc., a far-reaching global player in the full-service real estate services industry, reports its first quarter 2012 revenues increased 14 percent over the same period 2011, $1.35 billion versus $1.2 billion. Net income was $45.9 million, $0.14 per diluted share for Q1 2012 compared to $40.6 million, or $0.13 per diluted share, for the first quarter of 2011. However, the acquisition of ING REIM businesses for $18.9 million effectively reduced net income, on a GAAP (Generally Accepted Account Principles) basis to $27 million for Q1 2012, $0.08 per diluted share versus $34.4 million for the same period 2011, or $0.11 per diluted share. MHProNews has learned CBRE attributes growth for the first quarter to its Americas division (mostly the U.S.) which accounted for 60 percent of its revenue, and 70 percent of its EBIDTA (earnings before interest, depreciation, taxes, and amortization).
(Image credit: CBRE Group, Inc.)