Japan-headquartered GMO Internet Group, which provides a comprehensive range of services including brokerage services through GMO Click, the largest FX broker in Japan, has reported its consolidated financial results for the quarter ending March 31, 2017.
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For Q1 2017, GMO revealed that revenues from continuing operations pointed higher, coming in at ¥36.04 billion ($317.55 million), a gain of 8.6 percent YoY from ¥33,173 billion ($292.28 million) in the three months ending March 31, 2016. However, the group yielded an operating profit of just ¥3.5 billion ($31.1 million) during the three months through to March 2017, a loss of 3.3 percent from ¥3.7 billion ($32.2 million) the year earlier.
The same narrative was noted across its net income metric, with the group’s ordinary profit in Q1 2017 coming in at ¥3.4 billion ($29.7 million), which is down 5.1 percent compared to ¥3.6 billion ($31.3 million) in Q1 2016.
Japanese online trading giant GMO Click disclosed its April 2017 metrics last week , which showed a slowdown in its monthly FX trading volumes. The company also saw even more traders losing money from their binary options activity month-on-month.