BGC Group, Inc. (NASDAQ:BGC) today announced its financial results for the quarter ended June 30, 2024.

BGC’s revenue increased 11.7% to $550.8 million, representing record second-quarter revenue and reflecting broad-based growth across all geographies.

BGC generated strong double-digit revenue growth across its three largest businesses, rates, ECS (Energy, Commodities and Shipping) and FX. FX revenue improved 14.7 percent to $88.9 million, driven by emerging market products and G10 options volume.

Fenics Markets generated revenue of $115.1 million in the second quarter, an increase of 7.5%. This growth was driven by strong electronic forex, credit and interest volumes, along with higher Fenics Market Data revenues. BGC’s rapidly growing ECS ​​business is expected to provide future electronic growth opportunities for our Fenics Markets business.

Revenue in EMEA, Americas and APAC increased by 14.4%, 9.5% and 7.9% respectively.

Profitability increased across all earnings metrics during the quarter. Adjusted Earnings before taxes increased 19.2 percent to $125.8 million — a margin of 22.8 percent — the fifteenth consecutive year-over-year margin expansion. Adjusted earnings after taxes rose 14.7 percent to $114.7 million, and adjusted earnings per share improved 15.0 percent to $0.23 per share. Adjusted EBITDA increased 20.2% to $162.4 million for the second quarter.

On July 29, 2024, the BGC Board of Directors declared a quarterly cash dividend of $0.02 per share payable on September 3, 2024 to Class A and Class B common stockholders on August 19, 2024, which is the same date as the ex-dividend date.

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