22 October 2017

Sales down but profits up at OMX

20 October 2004  |  2897 views  |  0 accounts

Scandinavian trading technology vendor and exchange operator OMX is reporting a better-than-expected third quarter profit, despite experiencing a 10% downturn in sales.

OMX says third quarter profit jumped 146% to Skr96 million from Skr39 million on reduced costs. The result was better than analyst expectation for Skr83 million profit, but below the previous quarter's total.

Third quarter sales at Skr656 million were 10% down on the year ago period, and 13% down on the second quarter.

OMX CEO Magnus Bocker attributed the downturn in sales to seasonal factors and company restructuring.

He adds: "With regard to demand for technology solutions, we have not yet seen the tangible effects of the positive signals we received during the year from customers and we remain cautious in our market assessment for the next two quarters."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

OMX cuts jobs in Finland

OMX cuts jobs in Finland

06 October 2004  |  2710 views  |  0 comments
OMX Technology outsources systems development to India

OMX Technology outsources systems development to India

22 September 2004  |  3406 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.atos.netvisit www.vasco.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
10480 views comments | 22 tweets | 26 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
9998 views comments | 17 tweets | 24 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9061 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8132 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7914 views comments | 10 tweets | 22 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job