Wall Street profits at a 4-year high

Wall Street profits bounced back strongly in 2016. Lower costs more than made up for the continued decline in revenues,” said New York State Comptroller Thomas P. DiNapoli. Pretax profits for the broker/dealer operations of New York Stock Exchange (NYSE) member firms, the traditional measure of industry profitability, totaled USD 17.3 billion in 2016, the highest level in four years. This is an increase of 21 percent over the USD 14.3 billion in profits in 2015, reversing a three-year trend of declining profits.