Euronext announces €350 million share buyback after beating earnings view

By Jakob Van Calster

Nov 5 (Reuters) - Exchange operator Euronext announced a €350 million ($394.13 million) buyback programme as it beat third-quarter earnings expectations on Thursday, helped by strong growth across both its trading businesses and non-trading operations.

Adjusted EBITDA rose 31.6% to €364.2 million, ahead of the €343.9 million forecast in a company-compiled poll.

Here are details:

• "In absolute terms, this is Euronext's strongest quarter (...) we are now harvesting the success of our diversified business," chief executive Stéphane Boujnah said in an interview with Reuters

• Revenue grew almost a quarter to €547.4 million, with non-trading-related sales accounting for 55% of total, down from 58% last quarter

• Revenue from fixed-income, currencies and commodities jumped 48.1% to €121.3 million, while equity trading revenue rose 33% to €124.6 million, supported by enduring market volatility, a solid performance by the Athens stock exchange, and growth in ETFs

• Boujnah said he expected volatility to persist into the next year as major European democracies head into elections

• The company also lowered its 2026 full-year forecast for underlying operating expenses, excluding depreciation and amortisation, to €760 million, from €770 million previously

($1 = 0.8880 euros)

(Reporting by Mateusz Rabiega and Jakob Van Calster; Editing by Harikrishnan Nair)