Japan-headquartered GMO Internet Group, which provides a comprehensive range of services including brokerage services through GMO Click, the largest FX broker in Japan, has reported its consolidated financial results for the quarter ending March 31, 2017.
For Q1 2017, GMO revealed that revenues from continuing operations pointed higher, coming in at ¥36.04 billion ($317.55 million), a gain of 8.6 percent YoY from ¥33,173 billion ($292.28 million) in the three months ending March 31, 2016. However, the group yielded an operating profit of just ¥3.5 billion ($31.1 million) during the three months through to March 2017, a loss of 3.3 percent from ¥3.7 billion ($32.2 million) the year earlier.
The same narrative was noted across its net income metric, with the group’s ordinary profit in Q1 2017 coming in at ¥3.4 billion ($29.7 million), which is down 5.1 percent compared to ¥3.6 billion ($31.3 million) in Q1 2016.
Japanese online trading giant GMO Click last week , which showed a slowdown in its monthly FX trading volumes. The company also saw even more traders losing money from month-on-month.
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