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Nasdaq first-quarter earnings helped by recent deals
April 24, 2014 / 11:10 AM / in 3 years

Nasdaq first-quarter earnings helped by recent deals

Scaffolding is seen outside the NASDAQ MarketSite in Times Square in New York April 17, 2014. REUTERS/Andrew Kelly

(Reuters) - Transatlantic exchange operator Nasdaq OMX Group Inc (NDAQ.O) on Thursday reported a higher first-quarter profit, helped by increased revenue from recent acquisitions.

Net income attributable to Nasdaq rose to $103 million, or 59 cents per share, from $42 million, or 25 cents per share, a year earlier.

Excluding one-time deal-related items, the New York-based company earned 72 cents per share, topping the analysts’ average estimate by a penny, according to Thomson Reuters I/B/E/S.

Revenue rose 27 percent to $529 million.

Nasdaq last year closed a $390 million deal to buy Thomson Reuters Corp’s (TRI.TO) investor relations, public relations and multimedia services businesses. It also financed a $750 million deal to buy electronic Treasuries-trading platform eSpeed from BGC Partners Inc (BGCP.O), giving it a foothold in fixed income.

The company said it had paid down $121 million in debt in the last quarter.

Market services revenue, which includes derivatives, cash equities, fixed income and access and broker services, rose 17 percent to $213 million.

Technology solutions revenue, including corporate solutions and market technology, rose 80 percent to $135, helped by the Thomson Reuters deal.

Information services revenue, which includes market data and index licensing and services, rose 16 percent to $123 million.

Listing services revenue was up 5.5 percent at $58 million.

Reporting by John McCrank in New York; Editing by Lisa Von Ahn

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