Newmark Group: 4Q Earnings Snapshot
NEW YORK (AP) _ Newmark Group Inc. (NMRK) on Tuesday reported fourth-quarter net income of $14.5 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had net income of 9 cents per share. Earnings, adjusted for non-recurring costs, came to 45 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The provider of commercial real estate services posted revenue of $631.7 million in the period.
For the year, the company reported profit of $105.6 million, or 64 cents per share. Revenue was reported as $2.05 billion.
Newmark Group expects full-year earnings in the range of $1.55 to $1.65 per share, with revenue in the range of $2.2 billion to $2.3 billion.
Newmark Group shares have climbed 34 percent since the beginning of the year. The stock has dropped 28 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NMRK at https://www.zacks.com/ap/NMRK