NEW YORK (AP) _ BGC Partners Inc. (BGCP) on Wednesday reported third-quarter net income of $19.4 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had earnings of 5 cents per share. Earnings, adjusted for non-recurring costs, came to 11 cents per share.
The brokerage company posted revenue of $455 million in the period. Its revenue net of interest expense was $455 million, surpassing Street forecasts.
For the current quarter ending in December, BGC Partners said it expects revenue in the range of $440 million to $490 million.
The company's shares closed at $2.51. A year ago, they were trading at $5.36.
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