BGC Partners‘ profitability during the previous quarter was higher due to increased revenues and record quarterly productivity. Specifically, the brokerage company’s pre-tax and post-tax adjusted earnings rose by 10.2% and 12.1%, respectively. The brokerage company’s earnings before taxes, interest, depreciation and amortization increased by 7% compared to the same time period last year.
The company’s financial report showed that revenues from energy and commodities experienced the most significant increase, rising 8.8% to $89.7 million from Q1 2022. Credit trading revenues also increased by 6.7%, reaching $89.5 million. Rates and equity trading revenues both increased by 3.7% and 1.5 % respectively compared to last year’s same period.
BGC has been proclaimed:
Overall brokerage revenues increased by 4.2 percent (6.1% in constant currencies) due to an increase in trading volume across all asset categories. Rates and Credit experienced increased client activity as a result of the improved trading conditions and meaningful rates. Shorter-dated products and strong credit volumes were key factors. Moreover, our ship chartering and renewable energy businesses experienced double-digit…