Profit Rises at NYSE Group

The company's Archipelago merger helps results.
Author:
Publish date:

First-quarter profit grew at

NYSE Group

(NYX)

as results were helped by three weeks of post-merger operations from the Archipelago and Pacific Exchanges.

The company said net income for the quarter ended March 31 rose to $30.3 million, or 24 cents a share, from $26 million, or 22 cents a share, a year earlier.

Revenue rose to $478.9 million from $375 million a year ago.

NYSE's results reflected operations of the company's Arca unit (formerly the Archipalego and Pacific Exchange) since March 7, and included a $37.7 million charge related primarily to an employee compensation award at the time of the merger as well as a $20.9 million gain from selling an equity investment.

Excluding the charge and the gain, the company said that had the merger occurred on Jan. 1, its profit would've climbed to $52.7 million, or 34 cents a share, from $37.3 million, or 23 cents a share, a year earlier.

Shares of NYSE closed Wednesday up $2.65, or 3.6%, to $75.45.