03.08.10
CB Richard Ellis reports improved financial results for Q2 2010. Revenue for the quarter rose 23% to US$1.2 billion. This is the strongest year-over-year quarterly growth since Q4 2007. Earnings per share (EPS), adjusted for selected items, rose more than four-fold to US$0.18. This is well ahead of the US$0.09 analyst consensus estimate. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) more than doubled to US$161.6 million.
Mike Strong, Chairman and CEO of CB Richard Ellis – Europe, Middle East and Africa comments: "In addition to recording our strongest quarterly year-on-year growth since 2007 at a global level, we increased revenue in the EMEA region by 28% in the second quarter of 2010 and more than trebled EBITDA to $19.9 million compared to the same period last year".