JLL (NYSE: JLL) reported Q4 EPS of $6.35, $0.53 better than the analyst estimate of $5.82. Revenue for the quarter came in at $5.4 billion versus the consensus estimate of $2.39 billion.

• Record consolidated revenue and fee revenue1 of $5.4 billion and $2.4 billion for the quarter, representing double-digit increases over last year
• Excellent Americas performance for both the quarter and full year
• Continued progress on HFF integration led strong Capital Markets results
• Real Estate Services margin1 rose 80 bps for the quarter and 140 bps for the year
• LaSalle advisory fees grew nearly 30% reflecting continued capital raising momentum
• Operating cash flows drove over $600 million in debt repayment in quarter

"JLL delivered a record fourth quarter to finish out an excellent 2019 for our clients, employees and shareholders," said CEO Christian Ulbrich. "Our focus on generating profitable growth and driving productivity initiatives resulted in strong organic revenue gains and margin expansion, on top of the successful integration of HFF, our largest acquisition ever. We enter 2020 with optimism and confidence in our ability to continue to take market share and capitalize on long-term growth opportunities."

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