BGC Group Expects to Hit High End of 4Q Guidance

BGC Group anticipates delivering fourth-quarter revenue and adjusted earnings at the upper end of its previously stated guidance. Howard Lutnick, the CEO of the brokerage and financial technology company, reported that the business performed strongly throughout the quarter ending on December 31.

BGC is poised to announce double-digit growth in both revenue and pre-tax adjusted earnings for both the fourth quarter and the entirety of 2023. In October, the company projected adjusted earnings between $88 million and $108 million for Q4, with revenue ranging from $450 million to $500 million. This represents an increase from the year-ago quarter, which saw $87.1 million in adjusted earnings on $436.5 million in revenue.