How do cessationists explain 1 Corinthians 1:7?

In looking at the context of this verse it shows that each of them have been already given everything they need in Christ Jesus. They have been given the grace of God, they have been in enriched in Christ Jesus ( who is their life) They were made rich in Him, with Everything. They do not need anything more. The Lord will bring them all the way through, to the end… After all he is a Savior who saves to the end.

Perhaps they were being told they needed more by some others.

4I give thanks to my God always concerning you for the grace of God that was given to you in Christ Jesus, 5that in everything you were enriched in Him, in all discourse and all knowledge, 6according as the testimony of the Christ was confirmed in you, 7so that you are not behind in any gift, waiting for the revelation of our Lord Jesus Christ, 8who also will confirm you to the end—unblamable in the day of our Lord Jesus Christ; 9faithful [is] God, through whom you were called into the fellowship of His Son Jesus Christ our Lord.

When you take the first audience perspective into consideration, and understand that "soon" did not mean 2,000 + years and counting, then the answer to your question is Yes. The spiritual gifts were promised to that generation of the 1st century AD as Peter stated on the day of Pentecost.

"38 and Peter said unto them, `Reform, and be baptized each of you on the name of Jesus Christ, to remission of sins, and ye shall receive the gift of the Holy Spirit, 39 for to you is the promise, and to your children, and to all those afar off, as many as the Lord our God shall call.'" (Acts 2:38-39, YLT)

The promise was to those of that generation... "to you and to your children".. those standing there at the temple in Jerusalem in 30 or 31 AD. "And to all those afar off..." were the gentiles who had not yet been grafted in, but still of that generation.

So, Paul's statement to those of Corinth just before the passover of 55 AD (1) were of that same generation that rec'd the promise of Joel's prophesy on the day of Pentecost about 24 years earlier, and were still looking forward to Jesus' coming in judgment of that same generation.

"Verily I say to you, this generation may not pass away till all these may come to pass." (Matt. 24:34, YLT)

It was their generation that was going to see His return, His second appearance to them (Heb. 9:28). It is not our generation; it is not "this generation" today when we are reading. It was "this generation" almost 2,000 years ago. Their generation was going to see the revelation of Jesus Christ (Yeshua) in the promised judgments which He told His disciples in the venacular they would recognize.

"And concerning that day and the hour no one hath known..." (Matt. 24:36, YLT).

The very words they associated with the Feast of Trumpets (Yom Teruah) on the first of Tishri. Can you really believe that Jesus did not know when He was going to return? He didn't tell his disciples which year and which 1st of Tishri, but if they had been following the pattern from the OT, they might have expected the mirror of the 40 years wandering in the wilderness to be repeated for the probate of the gospel of Christ throughout the "world" of the ancient Roman empire - the 4th beast kingdom from Daniel's prophesies.

Because that is when Daniel was told that judgment would sit (Dan. 7:23-27). Christ told them that when that temple fell that He would separate out all those from Hades with the sheep (righteous) to his right, and the goats (wicked rebellious ones) to his left (Matt. 25:31-46). As Matt. 25 was linked to the prophesy of the fall of the temple in Matt. 24, and as that temple did fall under the Romans in AD 70, then Jesus carried out that judgment in AD 70.

And, the spiritual gifts which were dispensed by the laying on of the hands of the apostles (Acts 19:1-6) were the miraculous proofs to the people that the gospel was truly authorized by and sent by God, then those died out just as Paul told them they would (1 Cor. 13:8-13) when that which was perfect was come.

That which was perfect has meaning for the righteous one, our Savior, and for His kingdom; both of which came in judgment at the fall of that temple in AD 70 and with the full completed establishment of His perfect everlasting kingdom at the completion of the old Mosaic sacrificial covenant.

Jesus did it all. He kept His word to His disciples and we can rely upon it. We have the record of those miraculous deeds, and we have the word of the Holy Spirit. We have the Spirit through His word. All we have to do is study it.

The miraculous gifts were promised for that generation and were very public demonstrations for the people to be able to believe in Him.

Note:

1. Date of 1 & 2 Corinthians

Other readings:

It's Not The End of the World - Part VIII: Confirmation From Acts 2 ShreddingTheVeil

The Signs of Revelation Part I: The Time of His Coming ShreddingTheVeil

As someone who leans towards cessationism, I might still find a continuationist argument compelling if Paul had said something like:

"Therefore no believer will lack any spiritual gift as they eagerly await the revelation of our Lord Jesus Christ"- 1 Corinthians 1:7

But since he actually wrote to the Corinthians:

"Therefore you do not lack any spiritual gift as you eagerly await the revelation of our Lord Jesus Christ"- 1 Corinthians 1:7

I simply interpret Paul to be accurately describing the specific circumstances of the Corinthians as a group existing at that time and wouldn't expect this statement to broadly describe all Christians in every time period.

The Revelation of Jesus Christ is always spoken of as a future prophecy, since the Apostles didn’t know the day and hour themselves and were still instructed to write it down due to the Holy Spirit’s instruction. (2 Peter 1:20-21).

The gifts that the Spirit distributes are according to His will:

God also bearing witness both with signs and wonders, with various miracles, and gifts of the Holy Spirit, according to His own will? Hebrews 2:4

“There are diversities of gifts, but the same Spirit. There are differences of ministries, but the same Lord. And there are diversities of activities, but it is the same God who works all in all.

But the manifestation of the Spirit is given to each one for the profit of all: for to one is given the word of wisdom through the Spirit, to another the word of knowledge through the same Spirit,

to another faith by the same Spirit, to another gifts of healings by the same Spirit, to another the working of miracles, to another prophecy, to another discerning of spirits, to another different kinds of tongues, to another the interpretation of tongues.

But one and the same Spirit works all these things, distributing to each one individually as He wills.” 1 Corinthians 12:4-11

We have to also take into the historical context to which Paul is writing, even about tongues. Does Paul indicate some are given tongues? Yes. Does Paul also within his inspired literature mention tongues will cease? Yes.

“Love never fails. But whether there are prophecies, they will fail; whether there are tongues, they will cease; whether there is knowledge, it will vanish away. For we know in part and we prophesy in part. But when that which is perfect has come, then that which is in part will be done away.” 1 Corinthians 13:8-10

It’s therefore likely that when the “perfect has come” that Paul is referencing the close of the canon of scripture instead of the argument of the Second coming of Christ being that reference.

Conclusion:

It’s likely that 1 Cor 1:7 speaks of a future tense reality of Christ’s return, and that believers in Corinth will not lack any spiritual gift according to the will of God through His Spirit, who has control over how long tongues will last in this age.

There is no conflict or contradiction when assuming the Historical Context of this reality.