By Chris Wack
Marcus & Millichap shares were up 6.5% to $39.70 after the company swung to a fourth-quarter profit.
The Calabasas, Calif., real-estate services firm said it had quarterly earnings of $8.5 million, or 22 cents a share, compared with a loss of $10.2 million, or 27 cents a share, in the same quarter last year.
Revenue for the quarter was $240.1 million, compared with last year's $166.2 million.
The company said it had brokerage commissions of $202.8 million in the quarter, compared with last year's $144.6 million, and financing fees of $31.2 million, versus $15.9 million.
Marcus & Millichap said it believes price adjustments and higher motivations to transact will continue to result in increased transaction activity year over year, despite still-volatile interest rates.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 14, 2025 10:59 ET (15:59 GMT)
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