DBOEF Deutsche Boerse Ag Namen Akt (PK)

   By Cristina Roca 
 

Deutsche Boerse AG (DB1.XE) said Monday that its first-quarter net profit rose strongly, and backed its full-year guidance.

The German stock-exchange operator said first-quarter net profit rose 11% to 275.2 million euros ($306.7 million) from EUR249 million the year before. The result came slightly above analyst expectations of EUR272 million, according to a FactSet-provided consensus estimate.

Revenue for the quarter rose 4.2% to EUR720.8 million, Deutsche Boerse said.

"In a weak equity-market environment during the first quarter of 2019, Deutsche Boerse was able to draw upon strengths such as the planned growth of structural net revenue by 5% and its diversified business model," said Deutsche Boerse Chief Financial Officer Gregor Pottmeyer.

The company said its first-quarter earnings growth was in line with its full-year guidance. In February, Deutsche Boerse said it expects secular growth opportunities in 2019 to yield net revenue growth of at least 5%, and adjusted net profit to grow by around 10%.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

April 29, 2019 13:30 ET (17:30 GMT)

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