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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.

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