Shares of Colliers International Group (CIGI) plummeted 5.90% in pre-market trading on Tuesday following the release of its first-quarter earnings report. The professional services and investment management firm's results showed mixed performance, with earnings meeting expectations but revenue falling short of analyst estimates.

Colliers reported adjusted earnings per share of $0.87 for Q1, in line with FactSet estimates and up 12.99% from $0.77 in the same period last year. However, the company's revenue of $1.14 billion missed analyst expectations of $1.17 billion, despite representing a 13.87% increase year-over-year. Notably, Colliers swung to a net loss of $4.3 million, or 8 cents per share, compared to a profit of $12.7 million, or 26 cents per share, in the prior-year quarter.

Breaking down the company's performance, real estate services revenue, Colliers' largest segment, saw a 1% decline. On the other hand, engineering revenues jumped 59% to $377.90 million, while investment management revenues rose 3%. Despite the mixed results, Colliers' CEO and Chairman Jay Hennick maintained the company's conservative outlook for the year, citing macroeconomic and political uncertainty. Hennick stated, "When we set our outlook for the year, we took a conservative stance given the macroeconomic and political uncertainty," adding that the company assumes global trade uncertainty and interest rate volatility will improve in the second half of the year.