Seeking Alpha

Knight Capital +7.7% after big beat and buyback

  • Revenue of $383.7M up 19% Q/Q, with non-GAAP pre-tax income of 57.6M up from $19.8M. Market Making revenue of $277.3M is up 19% Q/Q, with pre-tax income of $76M up 59%.
  • With $185M of principal repayment during Q1, and another $50M since, KCG pays off and terminates its credit facility.
  • Tangible book value per share of $10.85.
  • Company announces $150M buyback program.
  • CC at 9 ET
  • Source: Press Release
  • Previously: KCG Holdings beats by $0.14
  • Shares +7.7% premarket
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