BGC Partners‘ profitability during the previous quarter was higher due to increased revenues and record quarterly productivity. Specifically, the brokerage company’s pre-tax and post-tax adjusted earnings rose by 10.2% and 12.1%, respectively. The brokerage company’s earnings before taxes, interest, depreciation and amortization increased by 7% compared to the same time period last year.
The company’s financial report showed that revenues from energy and commodities experienced the most significant increase, rising 8.8% to $89.7 million from Q1 2022. The company’s financial report also showed that revenues from credit trading increased 6.7% and reached $89.5 Million. The revenues from rates trading and equities traded rose 3.7% and 1.5% respectively compared with the same period in last year.
BGC is a registered trademark.
Overall brokerage revenues increased by 4.2 percent (6.1% in constant currencies) due to an increase in trading volume across all asset categories. Rates and Credit saw a rise in client activity due to the combination of higher interest rates and improved trading conditions. Shorter-dated products and high credit volumes were largely responsible for this. In addition, both our ship chartering and renewable energy businesses experienced double-digit growth.