Jones Lang LaSalle Inc.'s (JLL) third-quarter profit soared 88% on revenue and margin growth as well as lower one-time items than a year earlier.
The commercial-real-estate services company's revenue exceeded Wall Street's expectations but earnings were below analysts' estimate.
"We posted solid results in the third quarter, as the broad market recovery continued," said Chief Executive Colin Dyer.
Commercial real estate has suffered from rising vacancies and declining rents and property values, but Jones Lang in July said leasing and capital markets business improved. The company, which provides help with sales, leasing and management of commercial properties worldwide, has swung to the black in recent quarters on strong revenue growth.
Earlier Tuesday, rival CB Richard Ellis Group Inc. (CBG) said its third-quarter profit more than quadrupled on the strongest quarterly year-over-year revenue growth since the end of 2007.
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