Marcus & Millichap Inc. Reports Drop In Q3 Profit, misses estimates

(RTTNews) - Marcus & Millichap Inc. (MMI) reported earnings for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $21.36 million, or $0.53 per share. This compares with $33.92 million, or $0.84 per share, in last year's third quarter.

Analysts on average had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.6% to $323.84 million from $332.38 million last year.

Marcus & Millichap Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $21.36 Mln. vs. $33.92 Mln. last year. -EPS (Q3): $0.53 vs. $0.84 last year. -Analyst Estimates: $0.55 -Revenue (Q3): $323.84 Mln vs. $332.38 Mln last year.