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Investing.com -- Euronext (EPA:ENX) shares rose more than 2% on Friday after the exchange operator reported a sixth straight quarter of double-digit revenue growth and announced a €250 million share buyback program.
Revenue and income rose 10.6% year on year to €438.1 million in the third quarter, just below the €440.15 million analyst consensus.
Adjusted earnings per share were €1.68, above the expected €1.64. Adjusted EBITDA climbed 12.6% to €276.7 million, lifting the margin to 63.2% from 62.0%.
Adjusted net income slipped 6.5% to €169 million, partly because Euronext did not receive a dividend from equity investments this quarter, unlike in the prior year. Reported net income was €149.7 million, down 6.1%.
Non-volume-related activities accounted for 60% of total revenue and covered 162% of operating expenses excluding depreciation and amortisation.
Capital Markets and Data Solutions revenue rose 13.9% to €168.4 million, while FICC Markets grew 11% to €81.9 million and Equity Markets advanced 6.6% to €93.7 million. Net Treasury Income jumped 23.8% to €16.7 million.
Chief Executive Stéphane Boujnah said the results showed “the sixth consecutive quarter of double-digit topline growth,” supported by disciplined cost control and investment in growth.
Euronext lowered its 2025 cost guidance to €660 million from €670 million and reduced its net debt-to-EBITDA ratio to 1.5x from 1.8x. The share buyback, representing about 2% of its share capital, will begin on Nov. 18 and conclude by March 2026.