BGC Partners, Inc. (NASDAQ:BGCP), a brokerage company servicing the financial and real estate markets, on Thursday updated its outlook for the quarter ending March 31, 2016.
BGC currently expects that its revenues for distributable earnings and for its pre-tax distributable earnings for the first quarter of 2016 to be towards the mid-point of the range of its previously issued guidance.
The previous forecast was published along with BGC’s FY 2015 results in February 2016. The previous guidance for Q1 2016 goes as follows:
- BGC forecast first quarter of 2016 distributable earnings revenues to rise by between approximately 13% and 21% and to be between $635 million to $680 million, compared with $563.9 million a year earlier.
- BGC expected first quarter of 2016 pre-tax distributable earnings to increase by between approximately 6% and 26% and to be in the range of $80 million to $95 million, versus $75.2 million a year earlier.
The company is set to report its financial results for the first quarter of 2016 at 10:00 AM ET on April 27, 2016.
You can view the full announcement from BGC Partners by clicking here.