Company: JLL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001037976-25-000045
Chunk: 90

Company: JONES LANG LASALLE INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 90
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30,Six Months Ended June 30,($ in millions)2025% Change2025% ChangeRevenue:At current period exchange rates$6,250.1 11 %$11,996.5 12 %Impact of change in exchange rates(39.2)n/a21.2 n/aAt comparative period exchange rates$6,210.9 10 %$12,017.7 12 %Operating income:At current period exchange rates$197.4 30 %$317.4 19 %Impact of change in exchange rates(2.0)n/a(3.3)n/aAt comparative period exchange rates$195.4 28 %$314.1 18 %Adjusted EBITDA:At current period exchange rates$291.7 18 %$516.5 19 %Impact of change in exchange rates(2.4)n/a(2.9)n/aAt comparative period exchange rates$289.3 17 %$513.6 19 %

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Revenue

For the second quarter, revenue increased 10% compared with the prior-year quarter. Resilient revenues were collectively up 11%, highlighted by Project Management, up 22%, and Workplace Management, up 10%, both within Real Estate Management Services. The collective 7% increase in Transactional revenue was led by Investment Sales, Debt/Equity Advisory and Other, within Capital Markets Services, up 14% (excluding the impact of non-cash MSR and mortgage banking derivative activity).

On a year-to-date basis, revenue increased 12%. Resilient revenues grew 12% collectively, highlighted by Workplace Management, up 13%, and Project Management, up 19%. Transactional revenues increased 10% collectively, led by Investment Sales, Debt/Equity Advisory and Other, up 18% (excluding the impact of non-cash MSR and mortgage banking derivative activity), and Leasing, within Leasing Advisory, up 9%.

The following highlights Revenue by segment, for the second quarter and first half of 2025 and 2024. Refer to segment operating results for further detail.

Revenue by Segment (in millions)

Operating Expenses

Consolidated operating expenses were $6.1 billion for the second quarter, up 10% from the same period in 2024. Gross contract costs were $4.2 billion, up 11% from the prior-year quarter, attributable to growth from