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Newmark posts record Q2 revenue, keeps full-year guidance flat
Revenue rose to $888.4M in Q2, up 17% year over year, as multifamily sales and office leasing offset concerns about tougher year-over-year comparisons.
Newmark reported record second-quarter revenue of $888.4M, up 17% from the same period last year, citing strength tied to multifamily investment sales and office leasing across major coastal markets, according to Bisnow.
Despite the upbeat quarter, Newmark kept its full-year guidance unchanged, maintaining a revenue range of $3.775B to $3.875B set earlier in the year.
Chief Financial Officer Michael Rispoli said the company did not raise guidance because comparisons look tougher in the second half of 2025, while management business activity continues to appear strong.
On the drivers of performance, Newmark said leasing and other commissions were up 17.2%, office leasing gains continued in New York City, San Francisco, and Los Angeles, and capital markets revenue rose 16% on sharply higher multifamily investment sales concentrated in senior and affordable housing. Chief Executive Barry Gosin added that the effect of elevated rates has varied by market, with overbuilding in certain metros weighing more than rates themselves, and he expects multifamily deal volume to pick up again even amid some slowdowns.