Free Site Registration

Instinet Makes a Profit, But Reuters May Sell It

Traders Magazine, August 2004

Staff Reports

Instinet Group, which reported a small profit in the second quarter compared to red ink in the same period last year, probably should be doing better and may be put on the block, according to the primary owners. Reuters, Instinet's parent, said it is considering selling its $1 billion stake in the trading and information giant. That's after Instinet reported second quarter net income of $8 million, or three cents a share, on total consolidated quarterly revenue of $280 million. Despite the small profit numbers, Instinet officials said the performance was good in the tough trading environment.

Get access to this article and thousands more...

All articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?