Deutsche Boerse Posts Higher Earnings on Deriviatives Trading
July 27 2016 - 1:53PM
Dow Jones News
By Ulrike Dauer
FRANKFURT--Deutsche Boerse AG (DB1.XE) on Wednesday reported
higher earnings and revenues due to enhanced derivatives trading
around the Brexit referendum in the U.K.
While slightly higher costs capped the reduced profit gains, the
German exchange operator said it was on track to meet full-year
targets, one day after a majority of shareholders approved the
merger plans with London Stock Exchange.
Quarterly net profit rose 9% to EUR183.5 million ($201.6
million) from EUR168.2 million in the second quarter of 2015,
beating the EUR182 million forecast in a Dow Jones Newswires
poll.
Earnings before interest or taxes, or EBIT, widely considered a
better gauge of operating performance, climbed 8.2% to EUR279.0
million from EUR257.8 million.
Simultaneously, costs were up 11% to EUR316.3 million from
EUR285.2 million. Revenue increased 9.8% to EUR600.7 million, below
the forecast EUR605 million.
In the quarter, Deutsche Boerse posted a one-time gain of around
EUR565 million after taxes from selling its U.S. operations
International Securities Exchange to Nasdaq, Inc. for $1.1 billion
in cash. It said however, that the disposal gain wasn't included in
the reported earnings.
The deal was announced in March, one month after Deutsche Boerse
announced plans to merge with LSE.
(END) Dow Jones Newswires
July 27, 2016 13:38 ET (17:38 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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