BGC Group sees Q4 revenue at high-end of forecast, shares up

Bgc

29/12/2023 14:56

** Shares of brokerage and financial technology firm BGC
Group  BGC.O  rise 5.7% to $7.15
    ** BGC sees Q4 revenue and pre-tax adjusted earnings at the
high-end of its forecast range
    ** Co on Oct. 30 forecast Q4 revenue to range between $450
mln-$500 mln and pre-tax adjusted earnings of $88 mln-$108 mln
    ** BGC expects to report double-digit revenue and pre-tax
adjusted earnings growth for both Q4 and FY 2023 - CEO Howard
Lutnick
    ** Co anticipates to have approval from Commodity Futures
Trading Commission for its U.S. rates futures venue and announce
its strategic partners in early 2024
    ** Up to last close, stock up 79.3% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))