NYSE Profit Falls 44% on Merger Charges, Trading Decline
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NYSE Euronext, the biggest U.S. exchange operator, fell the most in six months after reporting a 44 percent decline in first-quarter profit, as expenses related to its failed merger with Deutsche Boerse AG combined with a slowdown in trading.
Net income fell to $87 million from $155 million a year earlier, the New York-based company said today in a statement. Excluding some items, earnings were 47 cents a share, compared with the 48-cent average estimate of 17 analysts surveyed by Bloomberg. The shares sank 4.9 percent to $25.75, the most since Nov. 1.