BGC Group Reports Strong Revenue Growth in Q4 2025 Results

BGC Group has reported solid financial performance for the fourth quarter (Q4) and full year ended December 31, 2025, reflecting strong activity across its core brokerage and technology-driven businesses.

In the final quarter of 2025, total revenues reached $756.4 million, representing a 32.2% increase compared with the same period last year. The company said the growth was due to higher trading volumes and continued demand for its brokerage and data services.

Foreign exchange revenues rose by 9.8% to $102.8 million, supported by strong growth in emerging market currencies and increased G10 FX forward volumes. BGC noted that client activity in these segments remained resilient throughout the quarter, contributing to steady performance in its FX operations.

BGC Group Reports Strong Revenue Growth in Q4 2025 Results

Total brokerage revenues increased by 34.6% in the fourth quarter, highlighting broad-based momentum across multiple asset classes. Meanwhile, Data, Network, and Post-trade revenues climbed 12.5% to $36.7 million, mainly driven by Lucera and Fenics Market Data. This growth was partly offset by lower post-trade revenues following the sale of its Capitalab business in late 2024. Excluding Capitalab, the segment recorded growth of 14.2%.

Pre-tax Adjusted Earnings rose 24.5% to $161.3 million, with a pre-tax margin of 21.3%. Post-tax Adjusted Earnings increased 21.1% to $149.6 million, resulting in adjusted earnings per share of $0.31, up 24.0% year over year. Adjusted EBITDA totalled $190.6 million, slightly lower by 0.8%, reflecting costs associated with the company’s cost reduction initiative.

GAAP income from operations before income taxes declined 8.0% to $25.0 million, impacted by $54.8 million in charges linked to the cost reduction program, including a $28.1 million cash impact.

During the quarter, BGC completed the first phase of its cost reduction program, which is going to generate $25 million in annualized savings in 2026. The company said further efficiencies are going to be throughout the year as it continues to streamline operations and improve profitability.

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