Filing Flows › BGC Group (BGC) › Q2 2026 › vs Q1 2026
BGC Group (BGC) Q2 2026 vs Q1 2026 (quarter over quarter)
BGC Group's revenue fell $110M (-12%) from $955M in Q1 2026 to $846M in Q2 2026. The biggest changes: Commissions −$104M (-14%); Other revenues −$7.8M (-5%); Data, network and post-trade +$2.2M (+6%). Operating margin 11.7% against 12.1% (-0.4 pts).
BGC Group, Q2 2026: revenue $846M (+8% year over year), operating margin 11.7%, net earnings $72.5M, operating cash flow $162M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 11.7% | 12.1% | -0.4 pts |
| Net margin | 8.6% | 8.8% | -0.2 pts |
| Free cash flow margin | 18.5% | 1.6% | +16.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Commissions | $649M | $753M | −$104M | -14% |
| Data, network and post-trade | $36.7M | $34.5M | $2.2M | +6% |
| Fees from related parties | $5.5M | $4.3M | $1.2M | +28% |
| Total other revenues | $4.2M | $6.0M | −$1.8M | -30% |
| Other revenues | $150M | $158M | −$7.8M | -5% |
| Revenue | $846M | $955M | −$110M | -12% |
| Operating profit | $98.9M | $115M | −$16.5M | -14% |
| Costs & expenses | $747M | $840M | −$93.4M | -11% |
| Pre-tax earnings | $98.9M | $115M | −$16.5M | -14% |
| Sales & marketing | $37.4M | $29.1M | $8.3M | +29% |
| Other operating costs | $709M | $811M | −$102M | -13% |
| Loss borne by minority interests | $3.6M | $684K | $3.0M | +434% |
| Net earnings | $72.5M | $84.1M | −$11.7M | -14% |
| Income tax | $30.1M | $32.0M | −$1.9M | -6% |
| Depreciation & amortization | $25.6M | $25.8M | −$131K | -0.5% |
| Working capital & other | $63.5M | −$89.7M | $153M | — |
| Operating cash flow | $162M | $20.2M | $141M | +700% |
| Free cash flow (OCF − capex) | $157M | $15.4M | $141M | +920% |
| Capital expenditures | $4.9M | $4.8M | $61K | +1% |
Questions
How much did BGC Group's revenue grow quarter over quarter in Q2 2026?
BGC Group's revenue fell $110M (-12%) from $955M in Q1 2026 to $846M in Q2 2026.
What drove BGC Group's revenue change in Q2 2026?
Commissions −$104M (-14%); Other revenues −$7.8M (-5%); Data, network and post-trade +$2.2M (+6%).