NEW YORK (AP) — NEW YORK (AP) — BGC Partners Inc. (BGCP) on Wednesday reported first-quarter earnings of $19 million.
The New York-based company said it had earnings of 5 cents per share. Earnings, adjusted for non-recurring costs, came to 23 cents per share.
The brokerage company posted revenue of $532.9 million in the period. Its revenue net of interest expense was $532.9 million, which did not meet Street forecasts.
For the current quarter ending in June, BGC Partners said it expects revenue in the range of $450 million to $500 million.
The company's shares closed at $4.44. A year ago, they were trading at $3.63.
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