* Q3 net income $131 mln, or $0.53 per share
* Revenue rises 3 percent to $574 million
* Listings business has substantial momentum - CEO
* Cost cutting programme 70 percent complete
LONDON, Nov 5 NYSE Euronext reported a
21 percent rise in third-quarter net income on Tuesday, as
revenues at its cash trading and listings business increased.
The New York Stock Exchange parent, currently in the middle
of a $10 billion-plus takeover by IntercontinentalExchange Inc
, said net income was $178 million, or 73 cents a diluted
share, compared with $108 million, or 44 cents a share, a year
Stripping out one-time items such as costs related to the
exchange operator's takeover by ICE, net income was $131 million
or 53 cents a share.
Analysts had been expecting 55 cents a share on average,
according to Thomson Reuters I/B/E/S.
Net revenue was up 3 percent at $574 million, short of
analysts expectations for revenue of $582.3 million.
NYSE Euronext shares are listed in New York. Euronext
operates the Paris, Amsterdam, Brussels and Lisbon exchanges.
The group in December said it was being bought by
Atlanta-based derivatives market and clearing house operator
ICE. The closing of the deal was expected on Nov. 4, but has
been postponed because it still needs the approval of some
Chief Executive Duncan L. Niederauer said NYSE had built
substantial momentum in its listings business, adding the
company was especially pleased that microblogging site Twitter
selected NYSE Euronext for its hotly-anticipated market debut on
Revenue from cash trading and listings was up 5 percent to
Operating expenses fell 4 percent, excluding merger expenses
and other costs, to $372 million.
The company said its 'Project 14' cost-cutting programme,
which aims to save $250 million by the end of 2014, was 70
The NYSE deal gives ICE control of Liffe, Europe's
second-largest derivatives market. Derivatives trading remains
highly profitable for the exchanges, and new regulations have
dramatically expanded the demand for clearing over-the-counter
NYSE Euronext said revenue from derivatives rose 1 percent
year-on-year to $166 million, helped by a 14 percent rise in
average daily trading volumes of European interest rate
ICE is due to report its results later on Tuesday.