Broker Revenue Tumbles

Gross revenues fell by 25 percent for NYSE member broker/dealers in the last year and a half, dropping to a five-year low of $36.3 billion in the third quarter. Pre-tax profits are still dropping, too: Profits were estimated to be $1.1 billion in the third quarter, down from $2 billion in the second quarter.

Nov 01, 2002

Gross revenues fell by 25 percent for NYSE member broker/dealers in the last year and a half, dropping to a five-year low of $36.3 billion in the third quarter. Pre-tax profits are still dropping, too: Profits were estimated to be $1.1 billion in the third quarter, down from $2 billion in the second quarter.

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