BGC Group Reaffirms Q4 2025 Outlook Following Robust Third Quarter

BGC Group, Inc. (NASDAQ: BGC) has confirmed its financial guidance for the fourth quarter of 2025, signaling a steady outlook as the fiscal year concludes. In a recent update, the brokerage and financial technology firm maintained its previous projections despite broader market volatility.

Fourth Quarter Projections

For the quarter ending December 31, 2025, BGC expects total revenues to fall within the range of $720 million to $770 million. This matches the initial forecast provided by the company earlier in the year.

The firm also reaffirmed its expectations for pre-tax adjusted earnings, which are projected to be between $152.5 million and $167.5 million. These targets represent an increase compared to the fourth quarter of 2024, when BGC reported $572.3 million in revenue and $129.5 million in pre-tax adjusted earnings.

Q3 2025 Performance Review

The reaffirmation follows a strong performance in the third quarter. For the three months ended September 30, 2025, BGC reported:

• Total Revenue: $736.8 million, a 31.3% increase year-over-year.

• Fenics (Electronic Trading): $160 million, up 12.7%.

• Pre-tax Adjusted Earnings: $155.1 million, rising 22.4%.

• ​Post-tax Adjusted Earnings: $141.1 million ($0.29 per share).

• Adjusted EBITDA: $167.6 million, up 10.7%.

Regional Growth and Asset Performance

Excluding OTC Global Holdings, revenues for the third quarter reached a record $628 million. The company noted growth across all asset classes and geographical regions. Specifically, revenues in Europe, the Middle East, and Africa (EMEA) grew by 37.4%, while the Americas and APAC regions saw increases of 28.1% and 17.4%, respectively.

Management attributed the results to the scale of its global platform, which allowed for revenue records in what was described as a mixed macroeconomic environment.