BGC Partners Reports Strong Q4 Sales, Net Growth
BGC Partners this week released its Q4 and 2012 results. For the quarter, the company's revenues grew by nearly 20% over the year-ago quarter to land at $436 million, while its GAAP net income more than tripled, to $27.4 million.
The company attributed much of this growth to its bulked-up real estate segment, which more than doubled its revenue over that span of time to nearly $150 million. Since 2011, BGC Partners has owned what is now known as Newmark Grubb Knight Frank. Earlier this year, it also bought prominent Denver real estate firm Frederick Ross.
For fiscal 2012, the company's revenues advanced 19% on an annual basis to $1.8 billion, while its net profit doubled and then some, to $46 million from 2011's $20 million.
The firm also kept its quarterly dividend steady, at $0.12 per share of its class A and class B common stock. This will be paid on March 15 to stockholders of record as of March 1.
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