April 27, 2010
Jones Lang LaSalle (JLL: 120.76 -0.75%) 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: 26.96 +0.33%) 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.
- CBRE Earnings Off 70% YoY; Revenue Per Transaction Flattening Out
- CPS 3rd Quarter Update and Thoughts on Leasing Activity
- The Crisis in Venture Capital Continues
- Moodys’ Commercial Property Price Index Increases 4.1% In December
- Grubb & Ellis Posts $41.5 Million Loss; Renegotiates Debt