By Ben Glickman
Jones Lang LaSalle's revenue and profit jumped in the third quarter as real-estate transaction activity continued to heat up.
The Chicago-based commercial real-estate company reported a profit of $155.1 million, or $3.20 a share, in the quarter, compared with a profit of $59.7 million, or $1.23 a share, a year earlier. Analysts polled by FactSet expected $2.54.
Stripping out certain one-time items, the company posted an adjusted profit of $3.50 a share, ahead of the $2.74 expected by analysts.
Revenue rose 15% from a year ago to $5.87 billion, beating the $5.62 billion expected by analysts.
Chief Executive Christian Ulbrich said the company's results were boosted by high demand for its outsourcing services and accelerating transaction activity, despite a "dynamic macro backdrop."
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
November 06, 2024 07:46 ET (12:46 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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