NYSE Member Firms Report Third-Quarter 2005 Results

New York Stock Exchange member firms that conduct business with the public reported third-quarter 2005 after-tax profits of  $1.82 billion and revenues of $61.13 billion, compared to $1.43 billion in after-tax profits on revenues of  $37.76 billion in third-quarter 2004.  In the first nine months of 2005, the firms reported after-tax profits of $4.65 billion on revenues of $163.67 billion, compared with after-tax profits of  $5.86 billion on revenues of $113.25 billion in the first nine months of 2004.

For   third-quarter 2005, NYSE specialists reported after-tax profit of $43 million.   During the same period last year, the specialists reported an after-tax loss of  $12 million.  Total specialist revenue in third-quarter 2005 was $216 million, compared to $192 million in third-quarter 2004.  In the first nine months of 2005, specialists reported after-tax profits of $119 million on revenues of $663 million, compared with after-tax profits of $3 million on revenues of  $666 million in the first nine months of 2004.  Comparative financial results are charted below:

  Member Firms Dealing with the Public
($ in millions)

	3rd Qtr. 2005	3rd Qtr. 2004	2nd Qtr. 2005	Y-T-D 2005	Y-T-D 2004
Revenues	$61,129	$37,755	$53,323	$163,673	$113,250
Expenses	58,334*	35,559	51,583	156,523	104,240
After-Tax Profit/(Loss)	1,817	1,428	1,131	4,648	5,856
After-Tax Annualized Return on Capital	4.0%	3.4%	2.5%	3.5%	4.8%
Assets	4,228,907*	3,681,450	4,167,420	4,228,907*	3,681,450
Capital & Subordinations	184,785*	170,359	180,632	184,785*	170,359
Commission Revenues	6,447	5,692	6,118	19,040	19,646
Number of Firms Reporting	219	232	225	232	241
Number of Profitable Firms	164	129	152	154	159
Aggregate Pre-Tax Earnings of Profitable Firms	3,366	3,722	3,077	9,834	12,278
Number of Unprofitable Firms	55	103	73	78	82
Aggregate Pre-Tax Loss ofUnprofitable Firms	(571)	(1,525)	(1,337)	(2,684)	(3,268)

NYSE Specialists
($ in millions)

	3rd Qtr. 2005	3rd Qtr. 2004	2nd Qtr. 2005	Y-T-D 2005	Y-T-D 2004
Revenues	$216	$192	$220	$663	$666
Expenses	140	214	161	450	657
After-Tax Profit/(Loss)	43	(12)	33	119	3
After-Tax Annualized Returnon Capital	3.9%	-1.1%	3.1%	3.7%	0.1%

* Record level

Note:  For member firms dealing with the public, the figures collected by the NYSE include revenue from all sources, including trading, interest and commission income.  Since the NYSE member firm community is made up of corporations and partnerships, after-tax earnings are presented on a pro-forma basis assuming a regular corporate tax rate or credit of 35 percent. 

The category of member firms dealing with the public generally excludes specialists, but includes firms that primarily trade for their own account, rather than doing a public business.

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)