JLL Q2 2023 Earnings Report
Key Takeaways
JLL reported a decrease in revenue and profitability for Q2 2023 due to the market-wide transaction slowdown and extended interest rate uncertainty. Revenue was $5.1 billion, down 4% in local currency, and operating income was $149.2 million. Diluted earnings per share were $0.05, and adjusted diluted earnings per share were $0.50.
Second-quarter revenue was $5.1 billion, down 4% in local currency.
Market-wide transaction slowdown impacted Capital Markets volumes.
Margin contraction was driven by lower transaction-based revenues in the United States and Europe.
Annual run-rate savings rose $70 million to $210 million in total.
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JLL Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income