BGC Group's Q1 '24 Profit Soars to $46.4m, Revenue Hits $578.6m, Completes FMX Transaction with $172m Investment

Shipping_VIE reported that $SB's Q1 earnings per share were $0.20 with 4.8 million shares repurchased. New charters were disclosed, and a 5 cent dividend was typical. BGC Group, the owner of FMX, saw its first-quarter profit nearly double due to increased trading volumes driven by uncertainty in monetary policy. BGC's Q1 '24 results included a net income of $46.4 million, EPS of $0.10, and revenue of $578.6 million, up 8.6% YoY. The company also completed the FMX transaction with $172 million invested by 10 financial institutions.