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Company news
FXCM Announces Third Quarter 2011 Results and October Operating Metrics ? Revenues are up
Update: Apparently Wall Street didn’t agree with me – FXCM’s stock price tumbled by more than 13% today. Good thing I’m not a trader.
FXCM’s Q3 2011 numbers are out and show outstanding growth in revenues. October retail forex volumes are down 8% but institutional ones are up by 35%. For the first time FXCM also shows average number of institutional trades a day – which is 90% higher in October comparing to September. All in all solid results that might help FXCM’s stock, which suffered from several downgrades lately, to rebound.
Highlights:
- Third quarter 2011 revenues of $109.1 million, up 5% from second quarter 2011 and 20% versus the same period in 2010
- Adjusted Pro Forma EBITDA of $31.4 million, up 10% from second quarter 2011 and up 13% versus the same period in 2010
- Pro Forma net income of $17.1 million, or $0.23 per fully diluted share
- US GAAP net income of $3.4 million, or $0.21 per fully diluted share
- Closed acquisition of Foreland Forex of Japan post-quarter end – will increase FXCM client equity to over $1 billion and significantly increase FXCM’s presence in Japan
- Declared a quarterly dividend of $0.06 per share of Class A common stock
Friday, 11 Nov, 2011 / 5:04
Source : http://forexmagnates.com/fxcm-announces-quarter-2011-results-october-operating-metrics-revenues/
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