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Screenshot of a breaking news alert e-mail from Q2 2017
Wall Street can be a very strange and fickle place.
After disappointing investors with a Q2 loss of $9 million, it looks like traders chose to focus on revenue growth at Gain Capital Holdings Inc (NYSE:GCAP), sending its shares up more than 5% in Thursday action.
Gain attributed its loss to ‘unusually adverse trading conditions across indices, which resulted in approximately $20 million lower than normal net revenue for the quarter.’
Q2 represents Gain’s first quarter as the new owner of UK-based City Index, which was formally folded into Gain at the beginning of April. City Index’s presence may have hit the bottom line, but helped Gain report quarterly revenues of $111.6 million – more than 20% above Q1 and Gain’s second best ever result for revenues.
Gain Capital shares still have a long way to go to make up lost ground, having dropped more than 20% in value over the past month.
To see Gain Capital’s press release on Q2 results click here.