Euronext: expectations exceeded - diversification works

(CercleFinance.com) - Yesterday evening Euronext reported better-than-expected Q3 results, taking advantage of both its diversification strategy and cost control.


In a statement, the pan-European stock market operator reported that between July and September, net profit rose by over 10% to 70.2 million euros.

The group, which now owns the Oslo Stock Exchange and is in the process of buying the Milan Stock Exchange, reported quarterly revenues of 204.8 million euros, up 12.7%, with organic growth of 3.4%.

The operator of the Amsterdam, Brussels, Dublin, Lisbon and Paris stock exchanges also saw its operating costs increase to 87.1 million euros, from 73.8 million euros a year ago, a performance that was also better than expected.

However, Euronext warns that costs relating to the integration of the Oslo Stock Exchange and its strategic projects could rise in the fourth quarter.

Investors seemed a bit concerned this morning, with the Euronext share currently down 1%, representing a market capitalisation of 6.4 billion euros.


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