UPDATE: NYSE Euronext 4Q Net Falls 20% In Weak Trading Volume
08 Febbraio 2011 - 10:26AM
Dow Jones News
Exchange operator NYSE Euronext (NYX) Tuesday said
fourth-quarter net profit dropped 20% from a year earlier, hit as
the dollar strengthened against the euro and by weak trading volume
in Europe and U.S.
Net profit for the period was $120 million compared with $151
million in the same period a year earlier, while earnings per share
declined 21% to $0.46.
Revenue in the quarter fell 4% to $613 million compared with the
same quarter in 2009 due a decline in European derivatives and U.S.
cash average daily trading volumes, as well as a $19 million hit
from foreign currency fluctuations which were partially offset by
higher technology services revenue.
Analysts had expected earnings per share of $0.44 and $612
million in net revenue, which excludes direct transaction costs and
other expenses.
"Despite a challenging trading volume environment in the second
half of 2010, we recorded record volumes in our derivatives
business for full-year 2010, we stabilized our core cash markets,
our listings business showed renewed strength, our technology
business is primed for growth in 2011 and we continued to focus on
reducing our fixed expense base," said Chief Financial Officer
Michael S. Geltzeiler in a statement.
NYSE Euronext said its board will recommend a $0.30 cash
dividend a share in the first quarter.
NYSE Euronext was formed in 2007 by the combination of NYSE
Group Inc. and pan-European bourse operator Euronext NV. The
company's shares closed Monday in New York up 3.4%, or $1.11, at
$33.76.
-By Elena Berton, Dow Jones Newswires; +33 1 40 17 17 65;
elena.berton@dowjones.com
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