NYSE Euronext reported net income of $643 million for its most recent full fiscal year, ended Dec. 31, 2007.
This represents a $438 million, or 214%, increase as compared to net income of $205 million, for the year ended Dec. 31, 2006. However, the comparative results for 2006 only include the operations of NYSE Group.
For the fourth quarter, net income was $156 million, up from $45 million in the same period a year ago.
The firm says that its strong performance in 2007 reflects the successful merger of the NYSE and Euronext, and the resulting increased global presence, customer base, and product and service offerings; as well as ongoing expense management, and record transaction volume growth across virtually all of the company’s business lines in both Europe and the US.
“By offering customers the highest quality and broadest array of global products and services, NYSE Euronext produced record financial results in 2007,” said Duncan Niederauer, CEO, NYSE Euronext. “We reached new levels in trading volume, message traffic and global IPO proceeds, underscoring the value of our strong technology, compelling business model and unparalleled global presence.”
“We have a clear vision of the future and are focused on delivering the promised synergies to our shareholders,” he noted, adding that it will continue to grow both organically, and through strategic acquisitions.
Joost van der Does de Willebois, acting CFO, reported that the firm now expects to realize over $200 million in annual technology cost savings by the first quarter of 2010, and by year-end 2010 it expects to realize the full $250 million of merger-related annual technology savings. It also expects to beat its planned $25 million annual non-technology related savings target by the end of the first quarter of 2008.
NYSE Euronext reports record earnings
Net income increases thanks to new global presence after merger with Euronext
- By: James Langton
- February 5, 2008 February 5, 2008
- 12:12