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Euronext's first-quarter core profit drops as costs bite

Wed, 15th May 2019 17:06

May 15 (Reuters) - Pan-European exchange Euronext reported a fall in core earnings for the first quarter as costs stemming from its acquisition of the Irish Stock Exchange mounted.

Euronext, which looks set to win a five-month battle with Nasdaq for Oslo Bors, also said revenue grew thanks to the contribution from the Irish bourse in an environment of subdued volumes.

Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 3 percent to 89.3 million euros ($100.07 million)in the quarter.

($1 = 0.8924 euros)

(Reporting by Noor Zainab Hussain in Bengaluru)

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