eSpeed, Inc. the frontrunner in the field of electronic marketplaces and related trading technology for the global capital markets today announced its results for the first quarter ended March 31, 2007.

eSpeed, Inc. from its inception in the December of 1999, has been performing as a definitive marketplace technology provider for the financial capital markets of the world. The company by now is regarded as a frontrunner organization in developing and deploying electronic marketplaces and related trading technology that offers traders access to the most liquid, efficient and neutral financial markets in the world. The chief function of the company lies in operating in multiple buyer, multiple seller real-time electronic marketplaces for the global capital markets that includes the world's largest government bond markets and other fixed income and foreign exchange marketplaces.

It has been stated as part of the First Quarter Results Summary that GAAP revenues were 3% lower than in the year-ago period. The GAAP net income was $0.02 per diluted share in the first quarter of 2007 vs. $0.04 per diluted share in the first quarter of 2006. eSpeed's non-GAAP operating revenue increased 6% and the Company's non-GAAP net operating income per diluted share increased to $0.04 in the first quarter of 2007 from $0.03 in the prior year's first quarter.

In respect of earnings there has been a net income of $0.9 million, or $0.02 per diluted share, for the first quarter of 2007 based on Generally Accepted Accounting Principles ("GAAP").  In reference of the reflection of earnings generated from the Company's operations, eSpeed also reported non-GAAP net operating income of $2.0 million, or $0.04 per diluted share. It has been stated that the difference between non-GAAP net operating income and GAAP net income for the quarter occurred chiefly due to $0.8 million in patent litigation costs and $0.4 million in losses from eSpeed's Equities Direct Access business, which is set to become a separate company called Aqua in the second quarter and in which eSpeed will have an equity stake. Both of these differences were reported to be, net of tax.

Speaking on the occasion Mr. Howard W. Lutnick, Chairman, Chief Executive Officer, and President of eSpeed said, "eSpeed's fundamental strength was underscored by the year-over-year gains in our U.S. treasury business and by increased screen-assisted revenue as additional BGC desks entered our hybrid pipeline. In addition, eSpeed's futures products made solid gains. We remain optimistic about our growth prospects for 2008 and beyond based on strong expected returns on the investments the Company has made in our portfolio of new products."