NEW YORK (AP) — NEW YORK (AP) — BGC Group, Inc. (BGC) on Wednesday reported first-quarter net income of $55.2 million.
The company, based in New York, said it had earnings of 11 cents per share. Earnings, adjusted for non-recurring costs, came to 29 cents per share.
The brokerage company posted revenue of $664.2 million in the period. Its revenue net of interest expense was $664.2 million, exceeding Street forecasts.
For the current quarter ending in June, BGC Group said it expects revenue in the range of $715 million to $765 million.
BGC Group shares have increased nearly 5% since the beginning of the year. The stock has increased 8.5% in the last 12 months.
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