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The Trump Organization is trying once more to sell the lease on its Washington hotel, a potential test of the lodging industry’s comeback and whether the stain of doing business with the former president has receded.
Operator
Good morning. My name is Jason. I ll be your conference operator today. At this time, I d like to welcome everyone to the Newmark first quarter 2021 earnings conference call. [Operator Instructions] Please note, this event is being recorded. I ll now turn the call over to Jason Harbes, Vice President of Investor Relations. Sir, you may begin when you re ready.
Jason Edward Harbes
Vice President of International Relations
Thank you, and good morning. We issued our first quarter of 2021 financial results press release and our presentation summarizing these results this morning. The results provided on today s call compare only the first quarter of 2021 with the year earlier period, unless otherwise stated. Any figures with respect to cashflow from operations discussed on today s call refer to net cash provided by operating activities, excluding loan originations and sales. We will be referring to our results on this call only on an adjusted earnings basis, unless otherw
Barry Gosin (Getty, Newmark/Illustration by Alexis Manrodt for The Real Deal)
Newmark posted record first quarter revenue this year, thanks to gains in its management services and leasing businesses.
The brokerage reported revenue of $504 million in its first-quarter earnings release published Thursday morning. That’s an increase of slightly more than 4 percent from the same period last year.
The gains were boosted by growth in the company’s biggest line of business: management fees from things like mortgage servicing, which saw a nearly 14 percent year-over-year increase. Revenue from leasing and commissions grew 5 percent, while revenue from capital markets and mortgage banking dropped about 5 percent and 6 percent, respectively.