Newmark’s third quarter earnings boost BGC’s revenues to $440M

TRD New York /
Nov.November 02, 2012 04:30 PM

Newmark Grubb Knight Frank raked in $141.1 million in revenue during the third quarter. The third quarter earnings mark a slight decrease from the $144.1 million posted during the second quarter, according to a report in Crain’s. The results come from a tally recorded by its parent company BGC Partners. Newmark’s earnings raised BGC’s income during a time at which BGC’s income from other financial services had fallen.

BGC’s revenues were $107 million in October – a decline from $112 million in October of 2011. But including real estate revenues, the numbers during the third quarter ticked in at $440 million, up from roughly $380 million year-over-year.

“BGC generated a 17.1 percent year-over-year increase in revenues for the quarter, driven by the ongoing success of our real estate services segment,” Howard Lutnick, BGC CEO, told Crain’s in a statement. “Our strong performance in real estate helped to offset the impact of the industry-wide volume declines across the global financial markets.” [Crain’s]Zachary Kussin


Related Articles

arrow_forward_ios
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

“For years we all laughed at them”: office brokers warm to virtual tours

“For years we all laughed at them”: office brokers warm to virtual tours
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

How to open up our offices on tonight’s TRD Talk

How to open up our offices on tonight’s TRD Talk
TSCG and SCG Retail's David Firestein, Meridien Retail Leasing's James Famularo and Newmark Knight Frank's Jeffrey Roseman

How to restart retail on today’s TRD Talk

How to restart retail on today’s TRD Talk
“Be very careful what you ask for,” top broker warns borrowers seeking relief

“Be very careful what you ask for,” top broker warns borrowers seeking relief

“Be very careful what you ask for,” top broker warns borrowers seeking relief
Barry Gosin, Sandeep Mathrani and Christian Ulbrich

WeWork taps JLL, Newmark to help negotiate rent relief

WeWork taps JLL, Newmark to help negotiate rent relief
From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Brokerage stocks plunge amid market turmoil
125 Park Avenue (Credit: Google Maps, iStock)

Newmark hires nurse to screen visitors, employee tests positive for Coronavirus

Newmark hires nurse to screen visitors, employee tests positive for Coronavirus
Fears of coronavirus have led some of the world’s most prominent commercial real estate companies to pull out of the MIPIM conference in Cannes, France. (Credit: Getty Images, iStock)

Coronavirus exodus: CRE bigwigs ditch MIPIM

Coronavirus exodus: CRE bigwigs ditch MIPIM
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...