NYSE Member Firms Report Fourth-Quarter 2011 Results

New York Stock Exchange member firms that conduct business with the public reported a fourth-quarter 2011 after-tax loss of nearly $1.3 billion and revenues of approximately $30.0 billion, compared with a nearly $2.0 billion after-tax loss on revenues of about $30.0 billion in the third-quarter of 2011. Comparative financial results are reported in the table below:

Member Firms Dealing with the Public ($ in millions):

	4th QTR 2011	4th QTR 2010	3rd QTR 2011	YTD 2011	YTD 2010
Revenue	$30,405	$40,748	$29,949	$146,055	$158,819
Expenses	$32,377	$34,495	$32,909	$138,403	$131,196
After-Tax Profit/Loss	($1,282)	$4,064	($1,924)	$4,974	$17,955
After-Tax Annualized Return on Capital	-1.9%	5.9%	-2.7%	1.8%	6.8%
Assets	$3,971,108	$4,017,076	$4,187,520	$3,971,108	$4,017,076
Capital and subordinations liabilities	$266,315	$279,406	$280,538	$266,315	$279,406
Commission Revenues	$5,575	$6,207	$6,801	$25,135	$23,727
Firms	170	182	175	181	189
Number of Profitable Firms	92	120	96	103	126
Aggregate Pre-Tax Earnings of Profitable Firms	$1,913	$6,671	$1,617	$16,994	$30,226
Number of Unprofitable Firms	78	62	79	78	63
Aggregate Pre-Tax Loss of Unprofitable Firms	($3,885)	($418)	($4,577)	($9,342)	($2,606)

* Record level

Note: Data is from NYSE member firms that conduct business with the public. Revenues include firms that trade primarily for their own account, but excludes designated market makers (formerly known as specialists). All firms are registered broker-dealers with the SEC. Revenues are predominantly derived from investment banking, trading, commissions, and interest.

Since the NYSE member firm community is composed of corporations and partnerships, after-tax earnings are presented on a pro-forma basis that assumes a corporate tax rate of 35 percent.

Links:
NYSE Member Firms Dealing with Public (Financial Summary) (pdf format)

Statement of Income (Loss) and Expense Unconsolidated (pdf format)

Statement of Financial Condition (pdf format)