NEW YORK (

TheStreet

) --

CB Richard Ellis

(CBG)

posted a 69% plunge in its third-quarter profit, missing expectations.

During the quarter, the commercial real estate service firm earned $12.4 million, or 4 cents a share, compared with $40.4 million, or 19 cents, in the year-ago period.

Excluding one-time charges, the company actually earned 8 cents a share, missing Wall Street's consensus of 10 cents a share.

Revenue sank 21% to $1.02 billion from $1.3 billion last year.

Shares of CB Richard Ellis ended the day down 6.5% to $11.46.

-- Reported by Jeanine Poggi in New York

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