Tags: Nasdaq | Profit | Earnings | Deals

Nasdaq Profit Beats Expectations, Helped by Deals

Wednesday, 23 October 2013 09:22 AM

Nasdaq OMX said Wednesday that its third-quarter net income rose 27 percent, helped by revenue contributions from recent acquisitions.

The New York-based company, which owns and operates the Nasdaq Stock Exchange along with about 30 other markets and clearinghouses around the world, said its profit totaled $113 million, or 66 cents per share, in the July-September period. That's up from $89 million, or 52 cents per share, in the same quarter of 2012.

Revenues after transaction rebates, brokerage, clearance and exchange fees rose 23 percent to $506 million.

The results beat Wall Street predictions. Analysts, on average, expected a profit of 62 cents per share on $502.4 million in revenue, according to FactSet.

Excluding the effects of changes in exchange rates and income from recent acquisitions, the company said its revenue rose 4 percent.

Technology solutions revenue rose 80 percent to $131 million, helped by the acquisitions of the investor relations, public relations and multimedia businesses from Thomson Reuters earlier this year. Market services revenue increase 8 percent to $200 million, while information services revenue rose 19 percent to $118 million.

Shares of Nasdaq OMX Group Inc. were inactive in premarket trading Wednesday. They have gained 34 percent this year.

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Transatlantic exchange operator Nasdaq OMX Group on Wednesday reported a higher third-quarter profit that beat analysts' expectations, helped by recent acquisitions and increased market data revenue.
Wednesday, 23 October 2013 09:22 AM
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