Fubotv earnings beat by $0.10, revenue topped estimates
NEW YORK - BGC Group, Inc. (Nasdaq:BGC), a $4.84 billion market cap financial services firm whose stock has gained nearly 23% over the past year, announced Monday it expects to surpass its previously stated outlook ranges for revenue and pre-tax Adjusted Earnings for the second quarter of 2025.
The financial services company, which operates marketplaces for fixed income, foreign exchange, energy, commodities, shipping, and equities, said results would be "slightly above" the guidance provided in its May 7 financial results press release. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $14 to $15.
BGC Group did not provide specific figures in its updated outlook. The company uses non-GAAP financial measures including Adjusted Earnings and Adjusted EBITDA to evaluate its performance.
The company’s business portfolio includes the FMX Futures Exchange, which was created in partnership with global investment banks and market making firms. FMX encompasses a U.S. interest rate futures exchange, spot foreign exchange platform, and U.S. cash treasuries platform.
BGC Group serves clients including banks, broker-dealers, investment banks, trading firms, hedge funds, governments, and corporations.
The announcement comes as financial markets continue to navigate economic uncertainties. The company will likely provide more detailed financial results when it releases its complete second quarter earnings report.
The information was disclosed in a press release statement from the company.
In other recent news, BGC Group, Inc. has completed the acquisition of OTC Global Holdings, LP for $325 million, primarily in cash. This acquisition is expected to positively impact BGC’s earnings immediately, with OTC Global Holdings having reported revenues exceeding $400 million for 2024. Additionally, BGC Group has repurchased 16,452,850 shares from former CEO Howard W. Lutnick, aligning with his commitment to government ethics rules. This transaction, valued at approximately $151.5 million, reflects BGC’s strategy to return capital to shareholders.
In related developments, Piper Sandler analyst Patrick Moley has expressed favorable views towards CME Group Inc. and Cboe Global Markets Inc. amid trade war volatility. These companies are seen as strong plays in the current market environment due to their sensitivity to transaction volumes. BGC’s acquisition strategy and share repurchase activities are part of its broader efforts to strengthen its market position and deliver value to shareholders.
BGC’s recent moves, including its finalized acquisition and share buyback, underscore its strategic focus on growth and shareholder returns. The company continues to expand its reach with the addition of FMX Futures Exchange, enhancing its financial sector offerings. These developments indicate BGC’s commitment to maintaining a leading position in the global brokerage and financial technology sectors.
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