The quarterly results of FXCM Inc (NYSE:FXCM) have been announced for the market to digest. The foreign exchange brokerage reported that net revenues from operations totaled $59.6 million, which is lower by 1.4 per cent when compared to the second quarter of 2015.
FXCM Inc has also reported that the company’s net income from continuing operations has rebounded massively when compared to the second quarter. The figures rounded up to a gain of $64.3 million after a $137.6 million gain from a derivative liability.
Compared to the second quarter of 2015, when the company announced a net loss of $98.9 million, the figure backs up the bullish expectations of Leucadia National (NYSE:LUK) regarding the ability of FXCM Inc to repay its post-SNB (Swiss National Bank) loan by the end of the first quarter of 2016.
Garlicoin - The Next DogeGo to article >>
Based on U.S. GAAP reporting, trading revenue from continuing operations totaled $56.3 million, which compares to $88.7 million for the same quarter of last year. The U.S. GAAP net income attributable to FXCM Inc amounted to $64.3 million or $12.10 per fully diluted share.
The figures include adjustments made to remove expenses relating to stock based compensation relating to the FXCM Inc’s IPO and the costs attributed to the acquisition of V3 Markets, LLC.
The earnings figures that FXCM Inc reported included a gain on a derivative liability of $137.6 million.