Global Brokerage, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended of March 31, 2017; Reports Goodwill Impairment Loss for the First Quarter of 2017
May 15, 2017 at 04:15 pm EDT
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Global Brokerage, Inc. reported unaudited consolidated earnings results for the first quarter ended of March 31, 2017. For the quarter, the company reported net interest revenue of $169,000 compared to $137,000 a year ago. Total net revenues were $45,864,000 compared to $60,394,000 a year ago. Operating loss was $24,197,000 compared to operating income of $1,628,000 a year ago. Loss from continuing operations before income taxes was $39,108,000 compared to income from continuing operations before income taxes of $91,717,000 a year ago. Loss from continuing operations was $39,025,000 compared to income from continuing operations of $91,150,000 a year ago. Net loss attributable to the company was $29,928,000 compared to net income attributable to the company of $49,735,000 a year ago. Basic and diluted loss per share was $4.87 compared to earnings per share of $8.88 a year ago. Adjusted EBITDA was $5,588,000 compared to $10,287,000 a year ago.
For the quarter, the company reported goodwill impairment loss of $23,917,000.
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.
Global Brokerage, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended of March 31, 2017; Reports Goodwill Impairment Loss for the First Quarter of 2017