FXCM Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and First Nine Months Ended September 30, 2016
November 08, 2016 at 06:45 am EST
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FXCM Inc. announced unaudited consolidated earnings results for the third quarter and first nine months ended September 30, 2016. For the quarter, the company announced total net revenues of $61,392,000 compared to $59,582,000 for the same period a year ago. Operating loss was $6,785,000 compared to $9,850,000 for the same period a year ago. Loss from continuing operations before income taxes was $53,383,000 compared to income from continuing operations before income taxes of $98,631,000 for the same period a year ago. Loss from continuing operations was $53,298,000 compared to income from continuing operations of $98,336,000 for the same period a year ago. Net loss attributable to the company was $39,134,000 or $6.98 per basic and diluted class A common stock compared to net income attributable to the company of $73,649,000 or $13.86 per basic and diluted class A common stock for the same period a year ago. Adjusted EBITDA was $6,373,000 compared to $5,194,000 for the same period a year ago.
For the first nine months, the company announced total net revenues of $203,463,000 compared to $335,284,000 for the same period a year ago. Operating loss was $12,644,000 compared to $147,483,000 for the same period a year ago. Income from continuing operations before income taxes was $126,025,000 compared to loss from continuing operations before income taxes of $506,336,000 for the same period a year ago. Income from continuing operations was $125,967,000 compared to loss from continuing operations of $687,952,000 for the same period a year ago. Net income attributable to the company was $71,002,000 or $12.67 per basic and diluted class A common stock compared to net loss attributable to the company of $448,979,000 or $90.37 per basic and diluted class A common stock for the same period a year ago. Adjusted EBITDA was $27,577,000 compared to $25,634,000 for the same period a year ago.
Global brokerage, Inc., formerly FXCM Inc. (FXCM), is engaged in providing online foreign exchange (FX) trading, contract for difference (CFD) trading, spread betting and related services. The Company owns over 50% of FXCM Group, LLC (FXCM Group). FXCM Group is a holding company of Forex Capital Markets LLC, (FXCM US), Forex Capital Markets Limited, inclusive of all EU branches (FXCM UK), FXCM Australia Pty. Limited, (FXCM AU). The Company focuses on providing global traders with access to market by offering trading tools, hiring trading educators. In addition, FXCM offers educational courses on FX trading and provides trading tools data and resources. FXCM Pro provides retail brokers, small hedge funds and market banks access to wholesale execution and liquidity, as well as providing high and medium frequency funds access to prime brokerage services through FXCM Prime.