Third quarter profits slipped for New York Stock Exchange member firms, the exchange reported today.

NYSE member firms that conduct business with the public reported third-quarter after-tax profits of US$2.6 billion on revenue of US$81.8 billion. This compared to US$1.8 billion in after-tax profits on revenue of US$61.1 billion in the third quarter of 2005.

However, firms’ profit was down from the second quarter of 2006, when firms generated almost US$3 billion in after-tax earnings. And, the number of unprofitable firms rose from 62 in Q2 to 73 in Q3.

Revenues were stronger in the third quarter though, up from US$78.6 billion in Q2. Third quarter revenues were a quarterly record, but so were expenses of US$77.7 billion. Firm assets also reached record levels of US$4.8 trillion, up from US$4.6 trillion in Q2.

Year-to-date revenue was US$237.96 billion, versus US$163.67 billion in the comparable 2005 period.