BGCP - BGC Partners expects Q4 revenue adj earnings above midpoint of guidance
- BGC Partners ( NASDAQ: BGCP ) said Friday it expects Q4 revenue and pre-tax adj. earnings to be above the midpoint of its guidance .
- Revenue would have been ~$14M higher, if not for the stronger U.S. dollar during Q4.
- The outlook reflects continuing forex headwinds for the euro and pound sterling, which are tracking 11% and 13% lower Y/Y, respectively, vs. the U.S. dollar, on average.
- BGC ( BGCP ) earlier guided for Q4 revenue, excluding insurance, of $390M–$440M, or $410M–$460M on constant currency basis. Pre-tax adj earnings were projected to be $71M–$91M .
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BGC Partners expects Q4 revenue, adj earnings above midpoint of guidance