NEW YORK (AP) — NEW YORK (AP) — BGC Group, Inc. (BGC) on Thursday reported fourth-quarter profit of $14.4 million.
The company, based in New York, said it had earnings of 3 cents per share. Earnings, adjusted for non-recurring costs, came to 31 cents per share.
The brokerage company posted revenue of $756.4 million in the period. Its revenue net of interest expense was $756.4 million, exceeding Street forecasts.
For the year, the company reported profit of $155 million, or 31 cents per share. Revenue was reported as $2.94 billion.
For the current quarter ending in March, BGC Group said it expects revenue in the range of $860 million to $920 million.
BGC Group shares have dropped 2.5% since the beginning of the year. The stock has dropped 6% in the last 12 months.
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