LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Retail forex broker Gain Capital Holdings Inc (NYSE:GCAP) reported its Q2 financial results today, showing a 6% QoQ decline in quarterly revenues to $108.3 million.
On the bottom line, Gain still did pretty well in Q2, with EBITDA coming in at $$27.6 million (down 13% from $31.8 million in Q1), and net income actually up slightly to $10.8 million for the quarter.
Gain also released its July FX volume figures. Gain’s Forex.com retail brand saw an 8% MoM decline in July to $213 billion, while institutional volumes were down 18%.
Gain Capital CEO Glenn Stevens had the following to say about Q2:
Our second quarter and first half results reflect the benefits of GAIN’s diversification strategy and successful execution of expense management initiatives. For the trailing twelve months ended June 30, 2016, GAIN delivered over $450 million of revenue, $31 million of net income and approximately $111 million of adjusted EBITDA with the second quarter of 2016 representing the fourth consecutive quarter that GAIN has delivered more than $20 million of adjusted EBITDA.
In addition, we successfully handled customer trading leading up to and following the EU referendum highlighting GAIN’s risk management as a core competency.
Gain Capital’s full Q2 results press release can be seen here.