CBRE · 10-Q · 2026Q3 · Full report

Segment Revenue Performance

CBRE GROUP, INC. · 2026-10-22 · Importance 43 · Surprise 32

Revenue for the nine months ended September 30, 2026 decreased 9.7%, primarily because development services management fees were lower, partly offset by increased investment management revenue. Cost of revenue declined 63.6% year over year due to lower construction management costs on real estate development projects. Operating, administrative and other expenses rose 72.0%, driven by the Telford Homes fire-safety remediation provision, higher development-services compensation associated with increased development sales, and higher impairment losses. Foreign-currency translation increased total revenue by 1.8% and reduced operating expenses by 1.6% for the nine-month period.

Key facts

• On January 1, 2026, CBRE transferred data center project work integrated with its Data Center Services facilities management business from Project Management to BOE and recast prior-period segment results. source
• CBRE Advisory Services revenue increased 11.0% in the third quarter. source
• CBRE conducted an interim goodwill impairment test as of January 1, 2026, following a reporting-unit composition change, and found no impairment because estimated fair values exceeded carrying values before and after the transfer. source