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CB Richard Ellis: Steep Revenue Drop in the Third Quarter

The nation’s largest commercial real estate services firm, Los Angeles-based CB Richard Ellis, has reported a 13% decline in third-quarter revenue from the same period in 2007, and CEO Brett White says that amid deteriorating global economic conditions the company’s transactions have reached a record low. Revenue for the third quarter totaled $1.3 billion compared with $1.5 billion in the third quarter of 2007, according to the company's third-quarter earnings release. Earnings per share amounted to 20 cents for the third quarter compared with 50 cents per share for the same period a year ago. “Our third-quarter results ...

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