NYSE Quarterly Profit Exceeds Estimates After Cost Cutting
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NYSE Euronext, the U.S. exchange operator being bought by IntercontinentalExchange Inc., reported fourth-quarter earnings that beat analyst estimates after the company cut costs.
Net income fell 75 percent to $28 million from $110 million a year earlier, the New York-based company said today in a statement. Earnings excluding some items were 43 cents a share, compared with the 38-cent mean estimate of 16 analysts surveyed by Bloomberg. The projections ranged from 35 cents to 42 cents.