BGC Group, Inc. (NASDAQ:BGC) today reported its financial results for the quarter ended March 31, 2024.
BGC’s revenues grew by 8.6% to a record $578.6 million, reflecting broad-based growth across all geographies and growth across its Energy, Commodities, and Shipping, Rates and Foreign Exchange businesses.
Total brokerage revenues grew by 7.3 percent, driven by strong performance across Energy, Commodities and Shipping, Rates, and Foreign Exchange.
Foreign Exchange revenues improved by 4.8 percent to $84.0 million, driven by higher volumes across emerging market currencies and options.
BGC’s profitability increased across all earnings metrics during the quarter, including GAAP net income for fully diluted shares, which improved by 92.2 percent.
BGC’s pre-tax…
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