Instinet Makes a Profit, But Reuters May Sell It
Traders Magazine, August 2004
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.
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