BGC Partners Revises Guidance, Expects Revenue To Be Above Low-End Of Prior Guidance

Shares of BGC Partners, Inc. BGCP were trading higher by 0.21 percent at $9.71 after the company revised its outlook for the fourth quarter.

BGC Partners previously guided its fourth-quarter distributable earnings revenue to increase 33 to 41 percent and be between $685 million to $725 million. In addition, the company guided its pre-tax distributable earnings to be between $85 million and $100 million.

BGC Partners said on Thursday it now expects its quarterly revenue for distributable earnings to be "above the low-end of the range" of its prior guidance. The company also said it now expects its pre-tax distributable earnings to be "towards the mid-point" of its prior guidance.