Gain Capital Holdings Earnings: Here’s Why Shares are Down Now
Gain Capital Holdings Inc (NYSE:GCAP) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.14%.
Gain Capital Holdings Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.11 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Rose 49.1% to $49.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Gain Capital Holdings Inc reported adjusted EPS income of $0.11 per share. By that measure, the company beat the mean analyst estimate of $0.1. It beat the average revenue estimate of $44.07 million.
Quoting Management: “Following our successful acquisition of GFT’s U.S. business in December of 2012, we recognized that combining GAIN’s operations with GFT was a significant opportunity to grow our business across the spectrum of retail and institutional products. The combined company will have a deeper global footprint, a robust offering of more than 12,500 financial products, and industry-leading trading platforms and tools. Our larger scale will also enhance GAIN’s ability to take advantage of improved market conditions, while providing greater resilience at times of weak volatility,” said Glenn Stevens, CEO of GAIN Capital. “This combination builds upon GAIN’s strong track record as a successful industry consolidator and creates an even more robust platform for future consolidation and growth.”
Key Stats (on next page)…