Stock exchange operator NYSE Euronext ( NYX ) on Tuesday said its second quarter profit fell 16% from last year, but adjusted results still beat analyst estimates.
The New York-based company reported second quarter net income of $154 million, or 59 cents per share, down from $184 million, or 70 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 61 cents per share.
Net revenues rose 1% from last year to $661 million.
On average, Wall Street analysts expected a smaller profit of 60 cents per share, on lower revenues of $653 million.
NYSE reiterated that its shareholders have approved a proposed takeover by German exchange operator Deutsche Boerse AG. That deal is still subject to regulatory approval.
NYX shares fell 52 cents, or -1.6%, in premarket trading Tuesday.
The Bottom Line
We have been recommending shares of NYSE Euronext ( NYX ) since June 28, 2011, when the stock was trading at $32.65. The company has a 3.64% dividend yield, based on last night's closing stock price of $33.00.
NYSE Euronext ( NYX ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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