BGC Partners Q4 Adj. Profit Rises

(RTTNews) - BGC Partners, Inc. (BGCP) reported fourth quarter post-tax adjusted earnings per share of $0.13 compared to $0.12, a year ago. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.12, for the quarter. Analysts' estimates typically exclude special items. Post-tax adjusted earnings improved 18.0% to $73.6 million.

Fourth quarter revenues were $479.4 million, down 1.6% from prior year. Analysts expected revenue of $470.95 million, for the quarter.

For the first quarter, the company projects: pre-tax adjusted earnings of $102 million - $122 million, and revenues of $540 million - $590 million.

On February 23, BGC Partners' Board declared a quarterly qualified cash dividend of $0.01 per share payable on March 30, 2021 to class A and class B common stockholders of record as of March 16, 2021.