BGC Partners's Quarterly Revenue Q1 2023 Hits Its Second Highest Record

BGC Partners, Inc. (BGC Partners), a leading global brokerage and financial technology company, has published its financial results for the first quarter ended March 31, 2023 (Q1 2023), registering second highest ever quarterly total revenue.

Financial Performance for Q1 2023:

• Revenue of the company totaled $532.9 million during the period, 5.2% higher than $506.5 million in Q1 2022, recording BGC Partners' second highest ever quarterly revenue, second only to the first quarter of 2020 when the onset of the Covid-19 pandemic drove trading volumes to record levels.

• Total brokerage revenues, including revenues of rates, foreign exchange, credit, energy and commodities, as well as equities, came in at $492.2 million, up 4.2% compared to $472.3 million in the same period of 2022, driven by higher trading

• volumes across all asset classes.

• Data, software and post-trade revenues grew by 12.4% to $27.1 million in the quarter, comparing to $24.1 million in Q1 of last year.

• Fenics Revenue increased by 12.0% from $125.3 million in Q1 2022 to a record $140.4 million for the quarter, led by a 33.1% yearly increase across its Fenics Growth Platforms and a 9.5% yearly increase in its Fenics Markets.

• Total expenses amounted to $499.96 million for Q1 2023, increasing 7.9% compared to $463.41 million in the same period of 2022.

• Net income available to common stockholders was $18.98 million, down 26.9% compared to $25.97 million in Q1 2022.

• Basic earnings per share was $0.05, comparing to $0.07 in last year's Q1.