BGC Group Beats Q2 Estimates With $845.5 Million Revenue as Q3 Outlook Misses by 1.1%
Updated
Updated · Yahoo Finance · Aug 1
BGC Group Beats Q2 Estimates With $845.5 Million Revenue as Q3 Outlook Misses by 1.1%
3 articles · Updated · Yahoo Finance · Aug 1
Summary
$845.5 million in Q2 revenue and $0.35 adjusted EPS both topped Wall Street forecasts, with sales rising 12.7% from a year earlier.
Broad-based gains across rates, foreign exchange and credit, plus stronger electronic trading on the Fenics platform, lifted client activity and operating leverage.
$805 million in Q3 revenue guidance fell short of the $814.3 million analyst consensus, reflecting seasonality, summer trading slowdowns and geopolitical uncertainty.
BGC said it is still pushing longer-term growth through its electronic platforms, FMX futures exchange expansion and new business partnerships.