Wednesday April 16, 2014

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NYSE Euronext jumps 45 per cent as exchange operator sees lower takeover costs

PARIS - NYSE Euronext says its net profit jumped 45 per cent in the first quarter thanks to lower merger expenses compared to a year earlier.

The owner of the New York Stock Exchange says it earned $126 million, or 52 cents a share, in the first quarter of 2013, compared with $87 million, or 34 cents a share, in the first quarter of 2012.

In a statement Tuesday the company said it is moving forward with its $8 billion acquisition by Intercontinental Exchange, a deal announced in December. Shareholders are due to vote on the deal in early June.

Revenue was flat in the quarter at $600 million while operating costs were kept at the lowest level since the merger of NYSE and Euronext in 2007, the company said.


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