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TORONTO - Colliers International Group Inc. (NASDAQ:CIGI) reported first quarter earnings and revenue that fell short of analyst expectations on Tuesday.
The company’s shares were down 2.41% in premarket trading following the release.
The global real estate services and investment management company posted adjusted earnings per share of $0.87, missing the consensus estimate of $0.89. Revenue came in at $1.14 billion, slightly below analyst projections of $1.15 billion.
Despite the miss, Colliers saw solid growth compared to the prior year quarter. Revenue increased 14% YoY (16% in local currency) to $1.14 billion. Adjusted EBITDA rose 7% to $116.0 million.
The company’s Engineering segment was a bright spot, with revenues surging 59% YoY to $377.9 million on strong internal growth and recent acquisitions.
"We’re pleased with our operating results for the quarter, which met expectations and keep us on track to achieve our full-year targets," said Jay S. Hennick, Chairman & CEO of Colliers. "At Colliers, market volatility has never derailed our focus on creating value for shareholders."
Colliers maintained its full-year 2025 outlook, assuming global trade uncertainty lessens in the second half and interest rate volatility does not increase.
The company’s assets under management exceeded $100 billion for the first time, closing the quarter at $100.3 billion.
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