JLL Squeezes Out a Profit in Q1

Jones Lang LaSalle (JLL: 90.89 0.00%) posted earnings this afternoon and they managed to squeeze out a small profit in a continuing sign of stability in the brokerage business. The company reported a profit of $200,000, which although paltry, is a vast improvement from the $60M loss they posted a year ago for the same period. More importantly though, the company did post an increase in revenues of 18%, which is indicative of the increased transaction volume that has taken place over the past two quarters.

CBRE (CBG: 23.05 0.00%) also reported a return to profitability in the latest quarter after they too took a hit during the same period the prior year. Transactions are certainly up over the past two quarters, but net absorption remains anemic.

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