BGC Partners, Inc. (NASDAQ: BGCP), a global brokerage company servicing the financial and real estate markets, today reported financial results for the quarter ended June 30, 2016.

Financial Metrics

The company reported that its post-tax distributable earnings to fully diluted shareholders grew by 13.2 percent to $80.1 million compared with Q2 2016 figures of $70.7 million and by 4 percent over Q1 2016 figures of $77 million.

Quarterly revenues under both U.S. GAAP and distributable earnings were $652.0 million versus $669.1 million last year, representing a decrease of -2.6 percent and $660 million in Q1 2016, or a marginal decrease of -1.2 percent. This was partly as a result of a decline in overall revenues for financial services following the sale of Trayport.

BGC has continued to invest the proceeds of the Trayport sale, and as Finance Magnates reported in April, this is expected to contribute to revenue and earnings growth in the second half of 2016.

Howard W. Lutnick, Chairman and Chief Executive Officer of BGC, commented: “Our post-tax earnings were up year-on-year for the sixth consecutive quarter. We expect our revenues and earnings to grow over time as we continue to invest the $650 million in proceeds from the sale of Trayport and to reap the benefits from our recent acquisitions and front-office hires.”

Acquisition

BGC recently announced an agreement to acquire Sunrise Brokers Group, a privately owned financial brokerage with a leading reputation in worldwide equity derivatives. Sunrise generated approximately $90 million in revenues in 2015, and has grown its revenues and profits for each of the last three years.

Outlook

In terms of outlook, BGC anticipates third quarter of 2016 revenues of between $655 million and $695 million, compared with $685.3 million a year earlier. In addition, third quarter 2016 pre-tax distributable earnings before noncontrolling interest in subsidiaries and taxes are expected to increase by between approximately 0 percent and 16 percent and to be in the range of $99 million to $115 million, versus $99.0 million a year earlier.

The company’s outlook reflects the sale of Trayport in December of 2015 which generated net revenues of approximately $19 million and pre-tax profits of $8 million in the third quarter of 2015.

BGC Partners, Inc. (NASDAQ: BGCP), a global brokerage company servicing the financial and real estate markets, today reported financial results for the quarter ended June 30, 2016.

Financial Metrics

The company reported that its post-tax distributable earnings to fully diluted shareholders grew by 13.2 percent to $80.1 million compared with Q2 2016 figures of $70.7 million and by 4 percent over Q1 2016 figures of $77 million.

Quarterly revenues under both U.S. GAAP and distributable earnings were $652.0 million versus $669.1 million last year, representing a decrease of -2.6 percent and $660 million in Q1 2016, or a marginal decrease of -1.2 percent. This was partly as a result of a decline in overall revenues for financial services following the sale of Trayport.

BGC has continued to invest the proceeds of the Trayport sale, and as Finance Magnates reported in April, this is expected to contribute to revenue and earnings growth in the second half of 2016.

Howard W. Lutnick, Chairman and Chief Executive Officer of BGC, commented: “Our post-tax earnings were up year-on-year for the sixth consecutive quarter. We expect our revenues and earnings to grow over time as we continue to invest the $650 million in proceeds from the sale of Trayport and to reap the benefits from our recent acquisitions and front-office hires.”

Acquisition

BGC recently announced an agreement to acquire Sunrise Brokers Group, a privately owned financial brokerage with a leading reputation in worldwide equity derivatives. Sunrise generated approximately $90 million in revenues in 2015, and has grown its revenues and profits for each of the last three years.

Outlook

In terms of outlook, BGC anticipates third quarter of 2016 revenues of between $655 million and $695 million, compared with $685.3 million a year earlier. In addition, third quarter 2016 pre-tax distributable earnings before noncontrolling interest in subsidiaries and taxes are expected to increase by between approximately 0 percent and 16 percent and to be in the range of $99 million to $115 million, versus $99.0 million a year earlier.

The company’s outlook reflects the sale of Trayport in December of 2015 which generated net revenues of approximately $19 million and pre-tax profits of $8 million in the third quarter of 2015.