NYSE Group’s Net Income Up 17%

NYSE Group Inc., owner of the New York Stock Exchange, said Wednesday that its quarterly profit rose nearly 17% in its first earnings report since becoming a public company.

Net income was $30.3 million, or 24 cents a share, against $26 million, or 22 cents a share, a year earlier.

Revenue rose 28% to $478.9 million, while expenses rose 36% to $459.1 million.

NYSE became a publicly traded company March 8 through its acquisition of Archipelago Holdings Inc., an electronic trading platform.

In addition to Archipelago, the first-quarter results include earnings from the Pacific Exchange, an options exchange that it acquired through buying Archipelago.

The figures include a $37.7-million charge, mainly related to a compensation award granted to NYSE employees at the time of the acquisition, and a $20.9-million gain on the sale of an investment in the Depository Trust & Clearing Corp., a New York-based organization that provides clearing and settlement services.

Excluding the items and assuming the acquisition took place on Jan. 1, the NYSE earned 34 cents a share.

Analysts polled by Reuters expected, on average, profit of 25 cents.

NYSE, whose shares rose $2.65 to $75.45, reported earnings after the close of regular trading.