BGC Partners Q1 Profit Rises

(RTTNews) - BGC Partners Inc. (BGCP), brokerage company servicing the financial and real estate markets, reported that its net income available to common stockholders for the first-quarter ended March 31, 2017 rose to $18.22 million or $0.06 per share from $12.51 million or $0.05 per share in the prior year. Total revenues were $707.43 million up from $640.65 million in the previous year.

For the second-quarter of 2017, BGC anticipates revenues to be between about $675 million and $720 million, compared with $653.8 million. BGC expects pre-tax distributable earnings before non-controlling interest in subsidiaries and taxes to be in the range of $108 million and $132 million versus $103.6 million.