Exchange operator NYSE Euronext said Tuesday that its third-quarter net income fell 46 percent on a drop in trading volumes.
For the quarter ended Sept. 30, the owner of the New York Stock Exchange earned $108 million, or 44 cents per share, down from $200 million, or 76 cents per share, in the same quarter last year.
Revenue dropped 28 percent to $902 million from $1.26 billion. After taking into account transaction-based expenses, revenue fell 21 percent to $559 million.
Analysts, on average, expected earnings of 41 cents per share on $569.5 million in revenue, according to a FactSet poll.
The company attributed the drop in revenue to lower average daily trading volumes, mainly related to its derivatives business. Derivatives revenue fell 27 percent to $164 million.
NYSE noted that the year-ago quarter’s results got a boost from extreme market volatility in Europe and the US stemming from debt worries there. Market volatility since that period has significantly declined, reaching multi-year lows in August of 2012, the company said.
The company operates the New York Stock Exchange and European stock exchanges in Paris, Amsterdam, Brussels and Lisbon as well as other exchanges.
NYSE Euronext shares closed at $25.61 on Monday. They are up 10 percent from a 52-week low of $23.31 in early June. They traded as high as $31.25 in late February.