January 29, 2013 / 10:39 PM / 5 years ago

Jones Lang LaSalle quarterly earnings rise

NEW YORK, Jan 29 (Reuters) - Global commercial real estate services company Jones Lang LaSalle Inc on Tueday reported fourth-quarter adjusted earnings that were a penny below Wall Street’s expectations.

Sales activity in Asia rebounded and grew strongly in the Americas, offsetting a decline in Europe.

The company reported fourth-quarter adjusted earnings of $117.1 million, or $2.60 per share, up from $113.6 million, or $2.56 per share, a year earlier. Adjusted earnings exclude one-time charges related to acquisitions and restructuring.

Analysts on average had expected adjusted earnings per share of $2.61 and revenue of $1.21 billion, according to Thomson Reuters I/B/E/S. Revenue rose to $1.25 billion from $1.15 billion a year earlier.

Shares of Jones Lang LaSalle hit a 12-month high of $92.03 Tuesday and closed at $91.84 before the company issued quarter results. Shares were unchanged in after-hours trade.

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