Nasdaq profit surges 76% on non-trading business strength
Exchange operator Nasdaq Inc reported a 76% surge in third-quarter profit on Wednesday, boosted by strength in its non-trading businesses and a surge in trading volumes, Trend reports with reference to Reuters.
Net income attributable to the company rose to $264 million, or $1.58 per share, for the quarter ended Sept. 30, from $150 million, or 90 cents per share, a year earlier.
Revenue from information services, Nasdaq’s biggest non-trading business, rose 20% to $238 million.
Higher trading volumes helped boost the company’s market services unit, its biggest business. Revenue in the segment jumped about 39% to $958 million.
Excluding transaction-based expenses, revenue rose 13% to $715 million.