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NYSE Euronext 2nd-qtr net income rises 38 pct

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July 30, 2013 09:35 AM EST | AP

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NEW YORK — NYSE Euronext said Tuesday its second-quarter net income jumped 38 percent, helped by higher revenue from derivatives trading and lower costs. Shares gained modestly in morning trading.

The exchange operator earned $173 million, or 71 cents per share, in the three months ended June 30. That was up from $125 million, or 49 cents per share, last year.

Excluding charges related to InterContinentalExchange's pending $8.2 billion takeover of the company and other items, NYSE says it earned an adjusted 63 cents per share.

Revenue rose 1 percent to $995 million from $963 million in the 2012 second quarter. After transaction expenses, revenue was $611 million, versus $602 million last year.

Analysts polled by FactSet, on average, expected a profit of 58 cents per share, on $601.3 million in revenue.

Derivatives revenue rose 7 percent to $195 million, helped by higher average daily trading volumes of European interest rate derivatives products.

NYSE said it continues to cut expenses ahead of the closing of the InterContinentalExchange deal, noting that on a constant basis its costs are down 7 percent so far this year.

In addition, NYSE said its capital spending is currently running about 30 percent below last year's level and is on track to come in below the company's previous 2013 prediction of $150 million.

The European Commission and NYSE shareholders have both approved the takeover. NYSE said Tuesday that it continues to work with other European regulators to get the remaining needed approvals.

NYSE Euronext Inc. shares added 13 cents to $41.55 in morning trading. The stock has traded between $22.25 and $42.42 in the past 52 weeks, and is up more than 31 percent since the start of the year.