Revenue climbed to $263.7 million for the first quarter, up from $224.0 million the previous year, while earnings before interest, taxes, depreciation and amortization jumped to $17 million, a 61.9% increase from last year's same period results. The $17 million included $10.8 million in operating income plus $6.2 million in depreciation and amortization.
CBRE is privately held, but the firm still issues earnings reports because it has some public debt. As reported previously on GlobeSt.com, CBRE has struck a deal to buy publicly held Insignia/ESG for $415 million. The merger will create what is believed to be the world's largest brokerage firm, with 16,000 employees in 47 countries.
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