BGC Group, Inc. recently released its financial results for the fourth quarter and entire year ending December 31, 2024. The foreign exchange revenue increased significantly by 21.3%, reaching $93.6 million. This growth was largely influenced by an uptick in options and foreign exchange volumes within emerging markets.
In addition to forex, revenues from rates showed an 8.8% rise compared to the same quarter last year, totaling $169.6 million. This increase reflects heightened activity in interest rate derivatives, listed rates products, and U.S. Treasuries.
Revenues generated from Data, Network, and Post-trade services grew by 10.3%, amounting to $32.6 million. The surge in subscription-based revenue from services like Fenics Market Data and Lucera largely drove this growth. However, it faced some pressure due to a decline in post-trade revenues linked to the sale of Capitalab, which occurred in the fourth quarter. Excluding Capitalab, revenues in this segment saw growth of over 20% year-on-year.
Pre-tax adjusted earnings for the quarter stood at $129.5 million, reflecting a 16.9% increase. After taxes, adjusted earnings reached $123.5 million, marking a 21.9% rise and leading to adjusted earnings per share of $0.25, which is a 19% improvement from the prior year. The adjusted EBITDA was reported at $192.0 million, representing a 26.7% increase compared to the previous year.
On February 13, 2025, the Board of Directors announced a quarterly cash dividend of $0.02 per share. This dividend is scheduled to be paid on March 20, 2025, to shareholders of record as of March 6, 2025, the same day as the ex-dividend date.
The Chief Operating Officer noted that the company achieved record revenues for both the fourth quarter and the entire year, with growth rates of 11% and 12%, respectively. Strong revenue growth was attributed to the company’s Electronic Communication Services (ECS), Rates, and Foreign Exchange divisions, which continued to exceed market performance. This positive momentum is expected to extend into 2025, with current trading volumes surpassing the records set in the first quarter of the previous year.
The company’s recent achievements reflect robust growth and strong performance across its business segments, indicating a favorable outlook moving forward.