CBRE Group, Inc. stock research
FY2024 Q2
CBRE Group (CBRE) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved slightly versus the prior quarter but weakened compared to the same quarter one year earlier.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved slightly versus the prior quarter but weakened compared to the same quarter one year earlier.
- Gross profit grew faster than cost of revenue relative to the prior quarter, contributing to the modest gross margin improvement. No single driver from the filing text is explicitly tied to the margin change.
- Compared to the prior quarter, the relationship among revenue, gross profit, and cost of revenue resulted in a slightly higher gross margin. Versus the same quarter last year, the gross margin was lower, as the increase in cost of revenue outpaced the increase in revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
17.7%
Gross profit
$1.5B
Revenue
$8.3B
Cost of revenue
$6.8B
Quarter-over-quarter change
+0.5 pts
Year-over-year change
-0.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2023 | $7.7B | $1.3B | $6.4B | 17.2% |
| Dec 31, 2023 | $8.9B | $1.8B | $7.1B | 20.1% |
| Mar 31, 2024 | $7.8B | $1.3B | $6.5B | 17.2% |
| Jun 30, 2024 | $8.3B | $1.5B | $6.8B | 17.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+0.5 pts
Year-over-year change
Jun 30, 2023
-0.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit grew faster than cost of revenue relative to the prior quarter, contributing to the modest gross margin improvement. No single driver from the filing text is explicitly tied to the margin change.
Compared to the prior quarter, the relationship among revenue, gross profit, and cost of revenue resulted in a slightly higher gross margin. Versus the same quarter last year, the gross margin was lower, as the increase in cost of revenue outpaced the increase in revenue.
Monitor the trajectory of gross margin relative to both the prior quarter and the year-ago quarter for sustained trends.