GAIN Capital posts 52.7% YoY increase in net income in Q1 2016
GAIN Capital posts 52.7% YoY increase explained by professional Forex trading experts the “ForexSQ” FX trading team.
GAIN Capital posts 52.7% YoY increase
Gain Capital Holdings Inc (NYSE:GCAP) has lately been quite active when it comes to financial metrics, especially when it comes to restating them. Following the publication of restated numbers for the first three quarters of 2015 and full year 2015, the online trading services provider today posted some key financials for the first three months of 2016.
Net revenue for the first quarter was $115.6 million, up 24.3% from $93.0 million (that is a restated number) in the first quarter of 2015, and adjusted EBITDA was $31.7 million, up from $19.8 million in the first quarter of 2015.
Net income rose 52.7% year on year to $8.4 million.
Glenn Stevens, CEO of GAIN Capital, says,
“Our performance this quarter reflects the strength of GAIN’s business and operating model and demonstrates the earnings power of the company. For the trailing twelve months ended March 31, 2016, GAIN delivered over $92 million of adjusted EBITDA. The first quarter of 2016 represents the third consecutive quarter that GAIN has delivered more than $20 million of adjusted EBITDA.
Our financial results highlight our ability to capture synergies from acquisitions and reduce our overall costs. Operating margins should continue to improve as we deliver approximately $45 million in run-rate cost synergies by Q4 2016 from the City Index integration and focus on overall cost reductions.”
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