KCG Holdings, Inc. (KCG) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $196.19 million, or $ 2.47 a share in the quarter, against a net loss of $2.97 million, or $0.03 a share in the last year period.
Revenue during the quarter surged 119.87 percent to $580.54 million from $264.04 million in the previous year period. Net interest income for the quarter rose 231.24 percent over the prior year period to $0.56 million. Non-interest income for the quarter rose 119.30 percent over the last year period to $579.98 million.
Daniel Coleman, Chief Executive Officer of KCG, said, "During the fourth quarter, we monetized a longstanding investment in Bats through a swap of substantially all of our stake for all KCG shares and warrants owned by General Atlantic. After the transaction plus additional open market purchases, KCG’s shares outstanding declined to 67.2 million from 86.2 million from the prior quarter and the number of warrants outstanding decreased to 5.1 million from 13.2 million. Sincethe merger, KCG has returned a cumulative $835.7 million to equity stakeholders. Our focus on creating value for stockholders enabled KCG to increase tangible book value per share to $18.71 as of the end of 2016.
Liabilities outpace assets growth
Total assets stood at $6,260.75 million as on Dec. 31, 2016, up 3.64 percent compared with $6,040.53 million on Dec. 31, 2015. On the other hand, total liabilities stood at $4,903.47 million as on Dec. 31, 2016, up 6.67 percent from $4,596.43 million on Dec. 31, 2015.
Investments stood at $1,719.20 million as on Dec. 31, 2016, down 0.92 percent or $16.03 million from year-ago. Shareholders equity stood at $1,357.28 million as on Dec. 31, 2016, down 6.01 percent or $86.82 million from year-ago.
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