New York Stock Exchange’s Earnings Tumble

The New York Stock Exchange said its first-quarter earnings tumbled 22% to $22.9 million from $27.9 million a year ago, as a decline in new share listings was compounded by a heavier expense load. New listings, a source of fee income for the nation’s largest stock market, slumped to 18 from 32. Expenses rose 17% to $150.4 million. Revenue rose 6.7% to $189 million, as trading jumped 38% to 1.1 billion shares a day from an average of 799.8 million. The NYSE, a member-owned exchange, doesn’t comment on quarterly results.