Strong Quarter for Marcus & Millichap

Calabasas commercial real estate brokerage Marcus & Millichap Inc. reported second-quarter results that exceeded Wall Street estimates on both earnings and revenue. The brokerage’s net income was $17.5 million (45 cents a share), compared to $17.6 million, (45 cents a share) for the same year-ago period. That was 7 percent higher than Thompson Financial Network analysts, who estimated 39 cents a share. Marcus & Millichap generated revenue of $183 million, compared to $174 million a year ago. Analysts estimated revenue of $171 million. Shares of MMI lost 9 cents, less than a percent, to close at $26.85 Thursday on the New York Stock Exchange.