BGC Group, Inc. Q1 Profit Increases, Inline With Estimates

(RTTNews) - BGC Group, Inc. (BGC) revealed earnings for its first quarter that increased from last year in line with the Street estimates.

The company's earnings totaled $49.21 million, or $0.10 per share. This compares with $18.98 million, or $0.05 per share, in last year's first quarter.

Excluding items, BGC Group, Inc. reported adjusted earnings of $123.20 million or $0.25 per share for the period.

Analysts on average had expected the company to earn $0.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.6% to $578.61 million from $532.87 million last year.

BGC Group, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $49.21 Mln. vs. $18.98 Mln. last year. -EPS (Q1): $0.10 vs. $0.05 last year. -Revenue (Q1): $578.61 Mln vs. $532.87 Mln last year.

-Guidance: Next quarter revenue guidance: $520 - $570 Mln