Marcus & Millichap reports Q2 EPS (14c), consensus (15c)

Reports Q2 revenue $158.37M, consensus $160.7M. “We are encouraged by the progress in the second quarter, with sequential improvement in our results compared to the first quarter. Our brokerage transaction volume increased 27%, reflecting more realistic pricing, opportunistic capital gradually re-entering the market and internal initiatives to increase business. The pull-back in the 10-year treasury yield and conviction of the upcoming interest rate easing cycle is also encouraging,” stated Hessam Nadji, Marcus & Millichap’s president and chief executive officer.