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Money News

Deutsche Boerse first-quarter profit up 33%, in line with expectations

The German share prize index (DAX) board is seen at the end of a trading day at the German stock exchange (Deutsche Boerse) in Frankfurt, Germany, February 12, 2019. REUTERS/Kai Pfaffenbach/Files

FRANKFURT (Reuters) - German exchange operator Deutsche Boerse DB1Gn.DE on Wednesday posted a 33% rise in first-quarter net profit, in line with expectations, and left its guidance for the year unchanged.

Wild swings in financial markets helped Deutsche Boerse revenue, which rose 27% to 914.8 million euros ($993.38 million).

Consolidated net profit was 367.2 million euros, up from 275.2 million euros a year ago.

Deutsche Boerse said that it was sticking to its profit target of 1.2 billion euros in adjusted net profit for 2020, despite the strong start to the year.

It said that it anticipates declines in some business areas, such as in interest income at Clearstream after the U.S. Federal Reserve’s moves to lower interest rates.

Reporting by Tom Sims; Editing by Chris Reese and Emelia Sithole-Matarise

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