BGCP - BGC Partners Non-GAAP EPS of $0.17 in-line revenue of $461.6M misses by $24.35M

BGC Partners press release (NASDAQ:BGCP): Q4 Non-GAAP EPS of $0.17 in-line. Revenue of $461.6M (-3.7% Y/Y) misses by $24.35M. BGC improved profitability across all metrics in 2021. Additionally, we executed numerous value unlocking initiatives, including selling our Insurance Brokerage business for $535 million, reducing our share count by over 10 percent and expanding Fenics UST's market share by nearly 600 basis points to over 20 percent. Fenics revenue grew by 26 percent to over $400 million and represented 22 percent of BGC's total revenue, excluding Insurance. We expect Fenics to exceed a quarter of BGC's total revenue in 2022.

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BGC Partners Non-GAAP EPS of $0.17 in-line, revenue of $461.6M misses by $24.35M