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CBRE Says No Recovery Until Second Half of 2024

With net income down 57.3% year over year, costs are on the chopping block.

If the bigger forces in an industry are under assault from macroeconomic forces, there’s a good bet that many other companies should also expect a turbulent voyage.

CBRE Group in its latest earnings release and call made it clear that last quarter was bad — net income was down 57.3% year over year, cash flow from operations cut almost in half, while net revenue was off 4.2%.

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Erik Sherman

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