BGC Partners sees Q4 adjusted earnings above midpoint of previous outlook

BGC’s revenue and pre-tax adjusted earnings for Q4 are now expected to be above the midpoint of the range of its previously stated outlook. BGC’s revenue would have been approximately $14M higher, if not for the stronger U.S. dollar during the period, and in-line with last year’s fourth quarter revenue, excluding Insurance. This guidance reflects continuing FX headwinds for the euro and pound sterling, which are tracking 11% and 13% lower, respectively, versus the U.S. dollar, on average, compared to the year ago period.