BGC Now Sees Q2 Revenue At Midpoint Of Prior Guidance

(RTTNews) - BGC Partners Inc (BGCP), a brokerage company servicing the financial and real estate markets, on Tuesday said it now expects second-quarter distributable earnings revenues and pre-tax distributable earnings to be around the mid-point of its previous guidance range.

In April, the company said it expected second-quarter distributable earnings revenues to increase between 51 percent and 58 percent and to have been between $650 million and $680 million.

Analysts polled by Thomson Reuters currently expect the company to report revenues of $638 million for the second quarter.

The company had anticipated second-quarter pre-tax distributable earnings to increase between 32 percent and 51 percent and to have been in the range of $70 million to $80 million.

BGC said its second-quarter results will include the consolidation of those for BGC's majority-owned division, GFI Group Inc (GFIG).