FONT-SIZE Plus   Neg

BGC Partners Now Sees Q4 Earnings, Revenues At Low End Of Prior Guidance

BGC Partners Inc. (BGCP) Monday said it now expects fourth-quarter distributable earnings and revenues at the low end of the guidance issued on October 27, 2011, which saw post-tax distributable earnings in the range of $41 million to $46 million, while pre-tax distributable earnings are anticipated between $48 million and $54 million. The company also noted that fully-diluted share count was 288.6 million, as of September 30, 2011.

Distributable earnings revenues, as per the prior guidance, were expected between $350 million and $380 million, with a contribution of $35 million to $45 million from recently acquired Newmark Knight Frank. Consensus of analysts' estimates currently sees fourth-quarter earnings of $0.16 per share on revenues of $370.45 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Software giant Microsoft Corp. (MSFT), Tuesday reported a profit for the first quarter that trumped analysts' estimates, as CEO Satya Nadella's strategy seems to be working reflected by strong growth in cloud business. Microsoft stock spiked up over 5 percent in after hours trading. Redmond, Washington-based... In order to make Facebook more user-friendly, the social media giant introduced a few attractive new features. Recommendation tool, call-to-action buttons, and new section pages are expected to attract more users in a world where there are more mobiles than human beings. Starbucks Coffee Co. said Thursday that it plans to open a Reserve Roastery in Japan in 2018. This will be the coffee giant's fourth Roastery location globally. The new location will be located in Tokyo's upscale Nakameguro district, known for its exclusive boutiques and art galleries.
comments powered by Disqus
Follow RTT