WASHINGTON (dpa-AFX) - (Adds Outlook)
BGC Group, Inc. (BGC) reported earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.
The company's earnings totaled $19.95 million, or $0.04 per share. This compares with $2.22 million, or $0.01 per share, in last year's fourth quarter.
Excluding items, BGC Group, Inc. reported adjusted earnings of $101.30 million or $0.21 per share for the period.
Analysts on average had expected the company to earn $0.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 18.4% to $516.76 million from $436.52 million last year.
Outlook
For the first quarter, BGC expects pre-tax adjusted earnings of $126 million to $144 million, compared to prior year's $124.6 million.
Revenues for the first quarter would be $560 million to $610 million, higher than last year's $532.9 million.
In pre-market activity on Nasdaq, the shares were gaining around 2 percent to trade at $7.44.
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