Deutsche Boerse posts 30% Q2 profit increase, to exceed 2023 forecasts

FRANKFURT (Reuters) -German exchange operator Deutsche Boerse on Tuesday reported a 30% rise in second-quarter net profit, better than analysts had expected, and said it would exceed its forecasts for 2023.

Higher interest rates from central banks around the globe have generated interest income for Deutsche Boerse, lifting revenues and profits and offsetting more subdued volatility and trading volumes.

Net profit attributable to shareholders was 443 million euros ($489.03 million), up from 341 million euros a year ago, the company said. Analysts had expected a profit increase of 24%.

Revenue at the group rose 20% in the quarter from a year earlier. Analysts had expected an increase of 15%.

Deutsche Boerse was upbeat on its outlook, saying that 2023 earnings would exceed its targets.

Those forecasts were for full-year revenue of 4.5 billion-4.7 billion euros and earnings before interest, taxes, depreciation and amortisation of 2.6 billion-2.8 billion euros.

It said a planned takeover of SimCorp was on schedule.

($1 = 0.9059 euros)

(Reporting by Tom Sims and Sabine WollrabEditing by Chris Reese and Leslie Adler)