NYSE Reports Second-Quarter And First-Half 2004 Financial Results

The New York Stock Exchange today reported net income of $5.4 million for the second quarter of 2004, compared with $11.6 million in the year-ago quarter. An increase in listings and other income contributed to a 1% increase in revenues to $273.0 million from $270.2 million in the second quarter of 2003. Expenses for the quarter increased 6.4% to $268.3 million, primarily due to increased spending in professional services – in particular legal expenses – and advertising. Changes in revenue and expenses led to a decrease in pre-tax income from $18.1 million in second quarter 2003 to $4.8 million in second quarter 2004.

Average daily trading volume in second-quarter 2004 was 1.5 billion shares, valued at $46.5 billion, compared with 1.5 billion shares valued at $39.6 billion in the second quarter of 2003. The NYSE’s global market capitalization in the six months ended June 30 increased to $17.8 trillion, up 28% from the comparable period in 2003. The Exchange maintained a market share in its listed stocks during NYSE trading hours of 82.3% in second-quarter 2004 compared to 81.0% in the year-ago quarter.

NYSE Second-Quarter 2004 Consolidated Financial Results and
NYSE First-Half 2004 Consolidated Financial Results