BGC Partners (BGCP) Adjusts Q2 Outlook; Expects Numbers within Prior Guidance

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BGC Partners, Inc. (Nasdaq: BGCP) updated its financial outlook for the second quarter ending June 30, 2012.

Results expected to remain within prior outlook:

• The Company expected to generate distributable earnings revenues of between $440 million and $470 million, compared with $364.8 million a year earlier.
  
  
• BGC expected pre-tax distributable earnings to be between approximately $54 million and $62 million versus $62.4 million in the second quarter of 2011.
  
  
• The Company anticipated its effective tax rate for distributable earnings to be approximately 14 percent for the second quarter of 2012 compared with 15.0 percent in the prior year period.
  
  
• BGC expected post-tax distributable earnings to be between approximately $46 million and $53 million versus $52.0 million in the second quarter of 2011.

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