Nasdaq Profit Soars - Update

(RTTNews) - Nasdaq OMX Group Inc (NDAQ) Thursday reported a more than two-fold jump in first-quarter profit, due mainly to acquisitions and growth across all segments.

The results come as the company benefited from a more constructive market environment and boosted its U.S. and European equity trading market share.

"Our unique and diverse mix of businesses accelerated meaningfully, resulting in record financial results for our shareholders," said CEO Bob Greifeld.

New York-based Nasdaq posted quarterly net income of $103 million or $0.59 per share, compared with $42 million or $0.25 per share last year.

Excluding items, adjusted earnings for the quarter were $0.72 per share, compared with $0.64 per share a year ago. On average, 13 analysts polled by Thomson Reuters expected earnings of $0.71 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter climbed 27 percent to $529 million from $418 million last year. Eleven analysts had a consensus revenue estimate of $526.6 million for the quarter.

On an organic basis, revenues were up 9 percent.

Among segments, market services revenue for the quarter climbed to $213 million from $182 million last year. This segment includes derivatives, cash equities, fixed income, and access and broker services.

Technology solutions revenue, which includes corporate solutions and market technology, jumped to $135 million from $60 million in the prior year.

Information services revenue was $123 million, up $17 million from a year ago. This segment comprises market data and index licensing and services.

Last year, the company closed a $390 million deal to acquire Thomson Reuters Corp.'s (TRI.TO) investor relations, public relations and multimedia services businesses.

Nasdaq also financed a $750 million transaction to acquire electronic Treasuries-trading platform eSpeed from BGC Partners Inc (BGCP).

The company's stock is trading at $36.45, down $0.16 or 0.44%, on a volume of about 1.07 million shares.