NEW YORK - NYSE Euronext, formed last year by the combination of NYSE Group Inc. and Euronext NV, said Tuesday that fourth-quarter profit more than tripled as trading volume surged and more companies listed on the exchange.
Net income rose to $156 million, or 59 cents per share, in the three months through Dec. 31, compared with $45 million, or 29 cents per share, in the same period a year earlier, the company said in a statement.
Excluding buyout costs and other one-time charges, net income was $175 million, or 66 cents per share, in line with expectations of analysts polled by Thomson Financial.
Revenue soared to $1.18 billion from $659 million during the same period last year.
NYSE Euronext is benefiting from increased trading volumes as volatility rocks the world's stock markets.
"We reached new levels in trading volume, message traffic and global IPO proceeds," said NYSE Euronext Chief Executive Duncan Niederauer. Niederauer replaced John Thain, who took the top job at Merrill Lynch & Co. at the start of December.
The NYSE Group logged seven of its top 10 daily volume records in 2007 including a record 5.8 billion shares traded on Aug. 16. Overall, the average daily trading volume on the NYSE and the NYSE Arca electronic exchange rose 16 percent in 2007 from 2006.
For the year, NYSE Euronext's earnings rose to $643 million, or $2.70 per share, from $205 million, or $1.36 per share, in 2006.
Last year, the combined company saw $80 million in proceeds from initial public offerings. NYSE Euronext added 428 listings.
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