NYSE Euronext Earnings: Here’s Why Investors are Bidding Up Shares
NYSE Euronext, Inc. (NYSE:NYX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.66%.
NYSE Euronext, Inc. Earnings Cheat Sheet
Results: Net income decreased -74.77% to $28 million (43 cents per diluted share) in the quarter versus a net gain of $111 million in the year-earlier quarter.
Revenue: Decreased 46.68% to $562 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: NYSE Euronext, Inc. reported adjusted net income of 43 cents per share. By that measure, the company beat the mean analyst estimate of $0.38. It beat the average revenue estimate of $555.3 million.
Quoting Management: “Our fourth quarter results reflect both the beneficial actions we took to refinance our debt and rationalize our clearing plans for Liffe in connection with the announced move to ICE Clear,” said Duncan L. Niederauer, CEO, NYSE Euronext. “Along with the continued progress we are making on reducing expenses as part of Project 14, we are focused on building momentum in our business prior to closing the deal with ICE, which we expect to close in the second half of this year…