NYSE Euronext 3Q results miss expectations

Associated Press

NEW YORK (AP) — NYSE Euronext posted a 65 percent spike in third-quarter net income as revenue improved for its cash trading and listings and derivatives businesses.

The company still fell short of Wall Street expectations.

For the period ended Sept. 30, the parent of the New York Stock Exchange earned $178 million, or 73 cents per share. That compares with $108 million, or 44 cents per share, a year earlier.

Excluding costs tied to its proposed acquisition by IntercontinentalExchange Inc. and other items, earnings were 53 cents per share. Analysts expected 55 cents per share.

Revenue, excluding certain expenses, climbed 3 percent to $574 million from $559 million. Wall Street called for $579.2 million.

Derivatives revenue rose 1 percent, while cash trading and listings revenue increased 5 percent.

Last week IntercontinentalExchange said that the closing of its acquisition of NYSE Euronext Inc. would be delayed because some European regulatory agencies still hadn't approved the deal. ICE plans to announce a new closing date soon.

IntercontinentalExchange, a futures exchange, agreed to buy NYSE Euronext in December. The transaction was valued at $8 billion when it was announced in December. The deal will also give ICE control of London-based Liffe, Europe's second-largest derivatives market.

View Comments (0)