Cowen Group (COWN) Tops Q2 EPS by 12c, Beat on Revenues

Cowen Group (NASDAQ: COWN) reported Q2 EPS of $0.39, $0.12 better than the analyst estimate of $0.27. Revenue for the quarter came in at $171.9 million versus the consensus estimate of $169.54 million.

Highlights

Second Quarter Financial Summary

• GAAP revenue of $160.5 million compared to $117.2 million in the prior year period.
• GAAP net income attributable to common shareholders of $5.7 million or $0.19 per diluted common share, compared to a GAAP net loss attributable to common shareholders of $12.2 million or $(0.45) per diluted common share in the prior year period.
• Economic revenue, a non-GAAP measure, of $171.9 million compared to $80.4 million in the prior year period.
• Economic income, a non-GAAP measure, available to Cowen of $11.5 million or $0.39 per diluted share, compared to an economic income loss of $22.0 million or $(0.82) per diluted share in the second quarter 2016.

For earnings history and earnings-related data on Cowen Group (COWN) click here.

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