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What: Shares of trading firm FXCM
So what: FXCM easily passed expectations with revenue of up 29% to $96.1 million crushing expectations of $76.3 million. Earnings per share of $0.24 were $0.05 better than analysts expected.
Now what: Since FXCM is newly public, analysts are having a hard time figuring out exactly what to expect. I expect they will adjust and raise expectations for 2011, so the current forward P/E ratio of 12.2 is probably lower than it will be in the near future. I like the value and growth, and of course, beating expectations doesn't hurt. I am bullish on today's move and think good things are in store for FXCM.
Interested in more info on FXCM? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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