UPDATE: Nasdaq Posts Upbeat Q2 Earnings
The Nasdaq OMX Group (NASDAQ: NDAQ) reported a 15% gain in its second-quarter profit.
The New York-based company reported a quarterly profit of $101 million, or $0.59 per share, versus a year-ago profit of $88 million, or $0.52 per share. Excluding items, its adjusted earnings climbed to $0.70 per share, from $0.62 per share.
Its revenue increased 16% to $523 million. However, analysts were expecting earnings of $0.68 per share on revenue of $517 million.
Nasdaq's market services unit revenue rose 6.3% to $202 million, while information services revenue climbed 15% to $123 million. Its technology solutions revenue jumped 44% to $138 million, while listing services revenue rose to $60 million.
Bob Greifeld, CEO, NASDAQ OMX said, "Once again, our diverse businesses generated solid organic growth in revenues despite a continued low volatility trading environment."
For the full year, Nasdaq lowered its expense forecast to $1.22 billion to $1.25 billion, versus its earlier range of $1.25 billion to $1.285 billion.
The company also bought back $93 million in shares in the quarter.
Nasdaq OMX shares fell 0.72% to close at $41.15 yesterday.
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