NYSE Euronext (NYX) Beats the Street's Q4 Views on Both the Top and Bottom Lines
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NYSE Euronext (NYSE: NYX) reported Tuesday that it topped Wall Street expectations with a 12 percent rise in quarterly earnings bolstered by cost-cutting efforts at the transatlantic exchange operator. Shares are up more than 5 percent on the news.
The New York Stock Exchange parent company reported fourth-quarter core earnings of $151 million, or 58 cents per share, 10 cents better that the analyst estimate of 48 cents per share. Including one-time items, NYSE Euronext earned $172 million, or 66 cents per share, compared to a loss of $5.06 in the same period last year.
Quarterly revenue for the company was down 6 percent to $640 million, slightly ahead of the market consensus of $638 million, while chief operating expenses fell 16 percent as the company cut its staff by 14 percent.
"Our fourth quarter and full-year results were solid, reflecting growing revenue and earnings power driven by our new businesses and our continuing efforts to harmonize our technology infrastructure and trading platforms," Duncan L. Niederauer, CEO, NYSE Euronext said in a statement.
Shares of NYSE Euronext are up 5.69 percent to $23.78 today.
The New York Stock Exchange parent company reported fourth-quarter core earnings of $151 million, or 58 cents per share, 10 cents better that the analyst estimate of 48 cents per share. Including one-time items, NYSE Euronext earned $172 million, or 66 cents per share, compared to a loss of $5.06 in the same period last year.
Quarterly revenue for the company was down 6 percent to $640 million, slightly ahead of the market consensus of $638 million, while chief operating expenses fell 16 percent as the company cut its staff by 14 percent.
"Our fourth quarter and full-year results were solid, reflecting growing revenue and earnings power driven by our new businesses and our continuing efforts to harmonize our technology infrastructure and trading platforms," Duncan L. Niederauer, CEO, NYSE Euronext said in a statement.
Shares of NYSE Euronext are up 5.69 percent to $23.78 today.
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