NYSE Euronext today reported net income of US$161 million for the three months ended June 30.
Net income is up 164% compared with the same quarter last year. Second quarter 2007 results include the operations of NYSE Group for the full quarter and the results of Euronext N.V. from April 4, the closing date of the combination between NYSE Group and Euronext. The comparative results for 2006 reflect the operations of NYSE Group only.
Included in the results for the three months ended June 30, are US$16 million in merger expenses and exit costs consisting primarily of professional and other fees incurred in connection with both the acquisition of Archipelago Holdings on March 7, 2006 and the combination with Euronext.
Giving effect to the combinations as if they had occurred at the beginning of the earliest period presented, but excluding merger expenses, exit costs and other non-recurring items, NYSE Euronext’s net income on a non-GAAP basis for the three months ended June 30, would have been US$172 million, a 29% increase as compared to net income of US$133 million for the three months ended June 30, 2006. In addition, on a non-GAAP basis, operating income grew 27% to US$275 million for the second quarter of 2007 from US$217 million in the year-ago period.
“Record revenues in our European cash and derivatives trading, as well as balanced growth in other business lines, including listings and market data, produced a strong second quarter for NYSE Euronext,” said Nelson Chai, executive vp and chief financial officer, in a news release.
“These results underscore NYSE Euronext’s growing product and geographic diversity, as well as increasing user demand for our products and services on a global scale,” he added. “Our business integration efforts are progressing well, and we remain focused on strategically advancing our global leadership position for the benefit of our customers and shareholders. Moreover, giving effect to foreign currency translations and recent acquisitions, we continue to reduce our fixed expense base through aggressive cost management, which is driving further expansion of our operating margin.”
NYSE Euronext posts 164% jump in Q2 income
Cash equities and derivatives trading fuel growth
- By: James Langton
- August 2, 2007 August 2, 2007
- 10:20