CBRE Group Inc Class ACBRE raises full-year guidance on strong data center and infrastructure services demand driven by AI investments.

CBRE raised its full-year adjusted earnings guidance after second-quarter revenue rose 15.2% year on year to $11.19 billion, roughly in line with analyst estimates. Adjusted earnings per share of $1.56 beat the consensus of $1.47 by 5.8%. Management lifted the full-year adjusted EPS midpoint to $7.85, a 1.9% increase, citing accelerating demand for infrastructure and data center services. Infrastructure services revenue grew over 45% and data center services revenue grew nearly 30%, driven by AI-related investments and hyperscaler expansion. CEO Robert Sulentic said the company expects data center services revenue to grow at a 25% annual rate for several years, potentially reaching a $10 billion business with over $1 billion of EBITDA by 2030.
CBRE Group Inc Class ACBRE raises full-year guidance on strong data center and infrastructure services demand driven by AI investments.