BGC Partners Sees Q4 Distributable Earnings Near Top of Forecast Range

BGC Partners Inc. was steady in late Wednesday trading after the global brokerage company revised its outlook for its financial results during the three months ending Dec. 31, now expecting Q4 pre-tax distributable earnings to near the high-end of its prior forecast range expecting between $107 million to $125 million, up from $103.6 million during the final three months of 2015.

The company also sees quarterly revenue near the mid-point of its $630 million to $675 million range, or about $652.5 million, compared with the current two-analyst consensus expecting $656.05 million in Q4 revenue. It produced around $692 million in revenue during the same quarter last year. BGC is scheduled to issue its Q4 financial results prior to the market open on Feb. 9.

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