Go to the Globe and Mail homepage

Jump to main navigationJump to main content

NYSE Euronext posts profit slump as trading slowed Add to ...

Profit at NYSE Euronext fell 16 per cent in the second-quarter as trading slowed on its shares and financial derivatives markets in New York and Europe.

The company, in the midst of a $9-billion (U.S.) merger with Germany’s Deutsche Boerse AG, earned $154-million, or 59 cents a share in the second quarter, down from $184-million, or 70 cents a year ago.

Futures trading at NYSE Euronext was down 6 per cent, dragged down by a 20 per cent slump in European activity, while a 36 per cent fall in share trading in the United States was offset by non-trading related revenue, partly from listings.

“Our solid results in the second-quarter reflect our focus on revenue diversification, disciplined cost management and balance sheet strength as we continue to execute against our long-term strategy in an extremely challenging environment,” said Duncan L. Niederauer, NYSE Euronext’s chief executive officer.

Revenue was up 1 per cent at $661-million.

Analysts on average expected NYSE Euronext to earn 60 cents per share on $652.7-million in revenue, according to Thomson Reuters I/B/E/S Estimates.

Follow us on Twitter: @GlobeBusiness

In the know

Most popular videos »

Highlights

More from The Globe and Mail

Most popular