NYSE Euronext Earnings: The Profit Streak Continues

S&P 500 (NYSE:SPY) component NYSE Euronext (NYSE:NYX) reported its results for the fourth quarter. NYSE Euronext provides securities listing, trading, market data products, and software and technology services.

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NYSE Euronext Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for NYSE Euronext fell to $110 million (43 cents per share) vs. $135 million (51 cents per share) a year earlier. This is a decline of 18.5% from the year earlier quarter.

Revenue: Rose 0.9% to $1.05 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: NYSE Euronext reported adjusted net income of 50 cents per share. By that measure, the company beat the mean estimate of 49 cents per share. It beat the average revenue estimate of $626.5 million.

Quoting Management: “Last week, the European Commission formally issued a prohibition against our merger with Deutsche Boerse and we have mutually agreed to terminate our business combination agreement,” said Duncan L. Niederauer, CEO, NYSE Euronext. “We are extremely disappointed with the decision, and as I have stated, we believe that it stems from a fundamentally different view of the competitive dynamics in the global markets.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the third quarter, by one cent in the second quarter, and by 8 cents in the first quarter.

Net income has increased 3.8% year over year on average across the last five quarters. The biggest gain came in the third, when income climbed 56.3% from the year earlier quarter.

The company’s revenue has now risen for two straight quarters. In the third quarter, revenue increased 19.8% to $1.26 billion from the year earlier quarter.

Looking Forward: Over the past ninety days, the average estimate for the first quarter of the next fiscal year has fallen from 68 cents per share to 62 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. For the fiscal year, the average estimate has moved down from $2.58 a share to $2.51 over the last ninety days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com