BGC Partners Updates Q2 Guidance


BGC Partners is waxing optimistic about its current quarter. The company updated its previously issued guidance, indicating that its nearly complete Q2 will come in at the higher end of the range for revenues and EPS. The former was for distributable earnings revenue of $435 million-$465 million, while the latter anticipated pre-tax distributable earnings of $42 million-$53 million.

In Q2 2012, BGC Partners posted top line of $465.1 million and pre-tax distributable earnings of $55.9 million. Those numbers for Q1 2013 were $449.8 million and $45.1 million, respectively.

The company's Q2 concludes at the end of this month. The firm is scheduled to report the quarter's results prior to market open on Thursday, August 1. It will host a conference call to discuss the figures.

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