Marcus & Millichap reports Q1 EPS (8c) vs (11c) last year

Reports Q1 revenue $171.5M vs $145M last year. “We delivered a strong first quarter, with broad-based growth across the business, reflecting investments in talent, business development and platform expansion as well as improving market conditions,” said Hessam Nadji, President and Chief Executive Officer of Marcus & Millichap. “Our Private Client business continued to build momentum while our institutional segment also posted gains as bid/ask spreads narrowed due to gradual price adjustments and improvements in the lending environment. Our financing business had an exceptional quarter as capital availability grew and we leveraged our market leading lender network to achieve revenue growth of 48%.”