Eaton Vance, Deutsche Borse

Eaton Vance Corp. and Deutsche Borse AG both reported impressive earnings growth in financial reports issued today.
FEB 21, 2008
Eaton Vance Corp. and Deutsche Borse AG and. both reported positive earning figures in financial reports issued today. Eaton Vance’s first-quarter earnings skyrocketed to $57.9 million, or 46 cents per diluted share, from 2.6 million, or 2 cents per diluted share, in the year-ago period. Eaton’s first quarter ended Jan. 31. The Boston-based company cited increased profits as the reason for the surge with total revenue for the quarter rising 24% to $289.8 million from the $243.2 million reported in the first quarter of 2007. Deutsche Borse’s fourth-quarter earnings rose 58% to $526.4 million, or 1.40 earnings per share compared with $334.2 million — 0.74 earnings per share — in the year-ago period. The Frankfurt, Germany-based exchange attributed the boost to increased trading activity. The company’s sales revenue increased 15% to $796.3 million for the final three months of the year compared to $633.7 million in the 2006 fourth quarter. Deutsche Borse’s stellar fourth-quarter performance was in stark contrast to European neighbor Societe Generale who reported record losses today following a trading scandal that has hit the Paris-based bank (InvestmentNews, Feb. 21).

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