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Gain Capital’s net income rises 28.6% in Q2 2016

The second largest forex brokerage in the US in terms of trading volume and retail client assets, Gain Capital Holdings Inc. (NYSE:GCAP) a.k.a Forex.com, announced its financial results for Q2 and half-year of 2016 on Thursday. According to the report, its net income rose to 10.8 million in Q2 2016, up from a $7.1 million loss in the second quarter of 2015. The figure also represents an increase by 28.6%, when compared to the previous quarter.


In contrast to the net income, net revenue for the quarter came in at $108.3 million, down 6.3 % compared to the previous quarter, and 2.9% YoY. The net revenue of Gain Capital for the first half of the year, however, amounted to $223.8 million, 9.5% up compared to H1 of 2015.


The overall results for the first half of this year also were favorable in terms of net income – it rose to $19.2 million, against a loss of $1.7 million in H1 2015.


What is more, the retail segment of Gain Capital generated a net revenue of $89.4 million in Q2 of 2016, down 7.5% from previous quarter, and brought a segment profit of $31.5 million (reflecting a margin of 35%). For the twelve months ended June 30, 2016, the retail segment generated net revenue of $376.7 million and segment profit of $126.6 million, reflecting a margin of 34%.


“Our second quarter and first half results reflect the benefits of GAIN’s diversification strategy and successful execution of expense management initiatives,” said Glenn Stevens, CEO of GAIN Capital.
Gain Capital’s main competitor, FXCM, also reported its Financial results for Q2 and H1 on Thursday. According to the data, the FXCM made $60.5 million net profit and $70.6 million in revenues in Q2. Doe to its stable operations, it is expected to fully repay its debt to Leucadia in 2017.


Established in 2003, Gain Capital Group is now active in North America, Europe and the Asia Pacific regions, serving both retail and institutional clients under the trading brands Forex.com, City Index, GTX, and Gain Capital.


New Jersey-based broker offers trading in forex, commodities, and global equities. Its largest retail forex broker, Forex.com, also offers white label solutions for other forex brokers, operating throughout the world.

 

TAGS: gain capital  forex.com  net income 

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