Marcus & Millichap Q2 Net Income Rises - Quick Facts

(RTTNews) - Marcus & Millichap Inc. (MMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, reported second quarter net income of $17.6 million or $0.45 per share compared to $12.8 million or $0.33 per share in the second quarter of the prior year. Adjusted EBITDA was $33.0 million compared to $24.0 million for the same period in the prior year.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.39 for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $173.5 million, compared to $134.3 million for the same period in the prior year, an increase of 29.2%. The company said the increase in total revenues is primarily a result of increases in revenues from real estate brokerage commissions. Analysts expected revenue of $157.20 million for the quarter.

The company reported that its second quarter sales volume were up 31.8% to $9.4 billion.