Sign in to comment!

Menu
Home

Europe

NYSE Euronext sees Q4 profit fall 75 percent as exchange operator prepares for takeover

Exchange operator NYSE Euronext says its net income fell 75 percent in the fourth quarter of last year compared to a year earlier on the back of costs related to its upcoming takeover and debt refinancing.

In the last quarter of 2012, the owner of the New York Stock Exchange earned $28 million, compared with $110 million in the fourth quarter of 2011.

The company says Tuesday that excluding charges related to write-offs in preparation for its acquisition by Intercontinental Exchange and the refinancing, its earnings would have been $105 million against $130 million the year before.

Its 2012 earnings were down 29 percent at $462 million on falling trading volumes, largely related to the exceptional volatility that existed in markets in 2011.