BGC Partners Inc. Q1 Profit Drops, Inline With Estimates

(RTTNews) - BGC Partners Inc. (BGCP) reported earnings for first quarter that decreased from last year in line with the Street estimates.

The company's earnings came in at $25.97 million, or $0.07 per share. This compares with $42.72 million, or $0.11 per share, in last year's first quarter.

Excluding items, BGC Partners Inc. reported adjusted earnings of $103.16 million or $0.21 per share for the period.

Analysts on average had expected the company to earn $0.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.8% to $506.46 million from $567.58 million last year.

BGC Partners Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $25.97 Mln. vs. $42.72 Mln. last year. -EPS (Q1): $0.07 vs. $0.11 last year. -Analyst Estimates: $0.21 -Revenue (Q1): $506.46 Mln vs. $567.58 Mln last year.