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New York Stock Exchange member firms that conduct business with the public reported a fourth-quarter 2007 after-tax loss of $10.64 billion and revenues of $88.18 billion, compared with $4.92 billion in after-tax profits on revenues of $93.38 billion in fourth quarter 2006. For 2007, the firms reported an after-tax loss of $7.35 billion on record revenues of $352.05 billion, compared with an after-tax profit of $13.58 billion on revenues of $331.34 billion in 2006. Comparative financial results in the table below:
Member Firms Dealing with the Public ($ in millions)
|
|
4th QTR |
4th QTR |
3rd QTR |
Y-T-D |
Y-T-D |
|
Revenues |
$88,181 |
$93,382 |
$78,792 |
$352,048* |
$331,340 |
|
Expenses |
$104,550* |
$85,817 |
$82,620 |
$363,352* |
$310,443 |
|
After-Tax Profit/Loss |
($10,640) |
$4,917 |
($2,488) |
($7,347) |
$13,583 |
|
After-Tax Annualized |
-17% |
9.5% |
-4.1% |
-3.2% |
6.7% |
|
Assets |
$5,459,435 |
$5,019,450 |
$5,650,068 |
$5,459,434 |
$5,019,450 |
|
Capital & Subordinations |
$250,063* |
$206,553 |
$249,023 |
$250,063* |
$206,553 |
|
Commission Revenues |
$7,613 |
$6,481 |
$7,163 |
$28,846 |
$26,666 |
|
Number of Firms Reporting |
195 |
204 |
196 |
208 |
224 |
|
Number of Profitable Firms |
119 |
134 |
141 |
143 |
158 |
|
Aggregate Pre-Tax Earnings |
$3,977 |
$7,704 |
$4,481 |
$18,467 |
$22,740 |
|
Number of Unprofitable Firms |
76 |
70 |
55 |
65 |
66 |
|
Aggregate Pre-Tax Loss |
($20,346) |
($139) |
($8,309) |
($29,770) |
($1,843 |
* Record level
Note: Data is from NYSE member firms that conduct business with the public. The category generally also includes firms that trade primarily for their own account, but excludes specialists. All firms are registered broker-dealers with the SEC. Revenues are predominantly derived from investment banking, trading, commissions and interest.
The fourth quarter 2007 and year to date 2007 revenue and expense numbers include a restatement, to correct prior period errors, by one NYSE member firm that increased the revenue and expense amounts by $17,726,524,321 and $17,356,524,321, respectively, in both periods.
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)
