NEW YORK (AP) — NEW YORK (AP) — BGC Group, Inc. (BGC) on Tuesday reported first-quarter net income of $49.2 million.
The company, based in New York, said it had earnings of 10 cents per share. Earnings, adjusted for non-recurring costs, came to 25 cents per share.
The brokerage company posted revenue of $578.6 million in the period. Its revenue net of interest expense was $578.6 million, falling short of Street forecasts.
For the current quarter ending in June, BGC Group said it expects revenue in the range of $520 million to $570 million.
BGC Group shares have risen 13% since the beginning of the year. The stock has risen 85% in the last 12 months.
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