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Joined Nov 11, 2007
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$NYX Posts Higher Profits, Low Trading Volume Hurts revenues

NYSE Euronext reported higher-than-expected third-quarter earnings on Tuesday but revenue missed as global trading activity remained weak.

After the earnings announcement, shares of the exchange operator [NYX  25.61    0.32 (+1.27%)   ] gained 1.2 percent in trading before the opening bell. (Click here to get real-time quotes for NYSE Euronext.)

The company reported third-quarter earnings excluding items of 44 cents a share, higher than a forecast of 41 cents per share and below last year’s 71 cents per share.

But revenue dropped 21 percent to $559 million from $704 million a year ago.

Analysts had expected NYSE Euronext to post revenue of $569 million, according to a Thomson Reuters estimate.

The company cited lower average daily trading volumes for the decline in revenue.”

Full report

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