Deutsche Boerse second quarter net profit drops 4%, but 2020 guidance unchanged

German exchange operator Deutsche Boerse on Wednesday posted an unexpected 4% fall in second-quarter net profit, but left its guidance for the year unchanged.

Revenues were in part helped by wild swings in financial markets generated by the coronavirus pandemic, but net interest income on U.S. dollar cash deposits fell after the U.S. Federal Reserve cut interest rates.

Net profit attributable to shareholders was 256.7 million euros (232.5 million pounds), down from 266.9 million euros a year before, the company said. Analysts had expected profit to rise.

Revenue rose 7% to 777.5 million euros, roughly in line with expectations.

Deutsche Boerse said it was sticking to its target for adjusted net profit of 1.2 billion euros in 2020.

"We will continue to invest increasingly in organic growth, new technologies and regulatory requirements," finance chief Gregor Pottmeyer said.

(Reporting by Tom Sims; Editing by Franklin Paul and Jan Harvey)