UPDATE 1-Nasdaq reports higher second quarter earnings
(Adds financial details and background on acquisitions)
NEW YORK, July 24 (Reuters) - Transatlantic exchange operator Nasdaq OMX Group Inc on Thursday reported a higher second-quarter profit, as it absorbed recent acquisitions and revenue increased across its business units.
Net income attributable to Nasdaq totaled $101 million, or 59 cents per share, up from $88 million, or 52 cents per share, a year earlier.
Excluding one-time items for acquisitions, the New York-based company earned 70 cents per share, beating the analysts' average estimate by 2 cents, according to Thomson Reuters I/B/E/S.
Revenue rose 16 percent to $523 million despite a low-volume trading environment. Non-transaction based revenue increased 19 percent and made up 74 percent of Nasdaq's net total.
Last year Nasdaq closed a $390 million deal to buy Thomson Reuters Corp's investor relations, public relations and multimedia services businesses. It also financed its $750 million purchase of eSpeed, the electronic Treasuries-trading platform, from BGC Partners Inc, a deal giving it a foothold in fixed income.
Nasdaq said it had paid down $100 million of debt in the second quarter, reaching its long-term leverage target. The company also resumed its share buyback program, purchasing $93 million of stock during the period.
Market services revenue, which includes derivatives, cash equities, fixed income and access and broker services, rose 6.3 percent to $202 million.
Technology solutions revenue, including corporate solutions and market technology, rose 43.8 percent to $138 million, helped by the Thomson Reuters deal.
Information services revenue, which includes market data and index licensing and services, rose 15 percent to $123 million.