NYSE Euronext profit misses forecast

The exchange posted a 21% increase in the second quarter but came in markedly below expectations.
AUG 01, 2008
NYSE Euronext Inc., the parent company of the New York Stock Exchange, posted a 21% increase in second-quarter profit due to increased transaction volume. The New York-based exchange operator posted net income of $195 million, or 73 cents per share, up from $161 million, or 62 cents per share, from the same period a year agod. But analysts surveyed by Thomson Reuters had forecast a quarterly profit of 78 cents per share. The NYSE's cash equities trading volume increased 7% in the U.S. and 17% in Europe, compared to the same period a year ago Volume on the NYSE Arca Options exchange rose 38% in the U.S., while trading volumes in derivatives increased 22% in Europe during the second quarter.

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