Euronext down after its results, disappointment on costs | Photo credits: Invest
PARIS, Feb 11 (Reuters) – Euronext fell on Friday on the Paris Stock Exchange after publishing its quarterly results, marked according to analysts by a stronger than expected increase in its expenses.
The title drops 4.37% to 81 euros, one of the biggest drops in the SBF 120 index (-1.55%) at 10:35 a.m.
The operator of the Paris, Amsterdam or Oslo stock exchanges reported Thursday evening growth in fourth quarter turnover and its gross operating surplus (EBITDA) above the consensus.
But the increase in operating expenses, to 162 million euros, casts a shadow on the board, believe analysts at Jefferies and JP Morgan while the consensus was expecting a figure of 158 million euros.
Euronext expects its underlying operating costs to be around 622 million euros this year, slightly above JP Morgan’s estimate of 613 million.
“Overall, revenues were good in the fourth quarter but it is difficult to extrapolate this early in the year for fiscal 2022. Operating cost forecasts could have a modest negative impact on annual profits “, indicated the analysts, to “neutral” on the value.
(Laetitia Volga, edited by Blandine Hénault)