NYSE firms see Q1 profits jump

first_imgFederal Hall with Washington Statue on the front, wall street, Manhattan, New York City oneinchpunch/123RF Share this article and your comments with peers on social media James Langton Profits rose in the first quarter at New York Stock Exchange (NYSE) firms, even as revenues stagnated.The NYSE reported that firms that deal with the public — not including market makers or prop trading firms — recorded aggregate after-tax profits of approximately $9.4 billion (all figures in U.S. dollars) in the first quarter of 2020, up from $4.5 billion in the same quarter last year. center_img The profit surge came even as revenues dipped year over year. Firms reported revenues of approximately $60 billion in the first quarter, down from about $62 billion in the first quarter of 2019.While total revenues were down a bit from last year, commission revenues were up, rising from $4.8 billion in Q1 2019 to $6.4 billion this year.Firms also had tighter controls on their purse strings this year, as expenses came in at under $49 billion in Q1 this year, compared with more than $55 billion in the same quarter a year ago.The rise in profits also boosted firms’ annualized return on capital to 11.2% this year from 5.9% in Q1 2019.Firms’ total assets were also up from last year to $3.84 trillion, from $3.4 trillion a year ago. Facebook LinkedIn Twitterlast_img

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