BGC Partners' 4Q22 and Full Year Financials Register Overall Slump

BGC Partners, Inc.​, a global brokerage and financial technology company, has released its financial results for the fourth quarter and full year of 2022, showing an overall slump.

Below are the key metrics for 4Q22:

• Revenues declined from 4Q21's $461.6 million to $436.5 million, down 5.4%.

• GAAP net income stood at $2.8 million, slumping 97.3% from $103.0 million in the last same period.

• GAAP income from operations before income taxes was $1.6 million, compared to that of last same period at $104.8 million, down 98.5%.

• Post-tax adjusted earnings fell 10.8% on a yearly basis to $78.4 million.

• Adjusted EBITDA came in at $124.0 million, 46.2% lower over 4Q21.

• GAAP fully diluted earnings per share dropped from 4Q21’s $0.2 to $0.01, falling 95.0%.

Below are the key metrics for the full year of 2022:

• Revenues declined from 2021’s $2,015.4 million to $1,795.3 million, down 10.9%.

• GAAP net income stood at $63.5 million, slumping 63.5% from $174.0 million in 2021.

• GAAP income from operations before income taxes was $97.5 million, compared to that of 2021 at $176.5 million, down 44.8%.

• Post-tax adjusted earnings fell 1.9% on a yearly basis to $343.8 million.

• Adjusted EBITDA came in at $486.2 million, 17.4% lower over 2021.

• ​GAAP fully diluted earnings per share dropped from 2021’s $0.32 to $0.13, falling 59.4%.

Howard W. Lutnick, Chairman and CEO of BGC Partners, commented: "Our business fundamentally changed beginning in December 2022. The return of meaningful interest rates and the reemergence of the strong positive correlation between issuance and increasing trading volumes are delivering broad-based growth across our business. BGC is now a growth company."