BGC Partners Inc. has updated its outlook for the fourth quarter and the 2018 full year, to exclude the results of its former commercial real estate services unit, Newmark Group Inc., which was recently spun off.

Post spinoff, BGC expects fourth-quarter revenues to be between $445 million and $475 million, an increase of about 3% to 10% year over year. Fourth-quarter pretax adjusted earnings are expected to be about $80 million to $92 million, which represents an increase of about 38% to 59% year over year.

For full year 2018, the company expects revenues to increase by 9.5% to 11.5% year over year, while pretax adjusted earnings are expected to increase by about 29.5% to 33.5% year over year.

BGC also expects to pay a post-spinoff dividend of about 14 cents per share for the fourth quarter, subject to board approval. In the previous quarters, the company paid a dividend of 18 cents per share.

The company may implement a reverse stock split of its common stock, units and other share equivalents in 2019, subject to board approval.