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Nasdaq earnings slip on deal costs, while revenues rise
July 24, 2013 / 12:31 PM / 4 years ago

Nasdaq earnings slip on deal costs, while revenues rise

2 Min Read

(Reuters) - Nasdaq OMX Group (NDAQ.O) reported on Wednesday a lower second-quarter profit, mainly due to acquisition costs related to the closing of two deals by the transatlantic exchange operator.

Net income attributable to Nasdaq totaled $88 million, or 52 cents per diluted share, down from $93 million, or 53 cents a diluted share, a year earlier.

Nasdaq closed a $390 million deal to buy Thomson Reuters Corp's (TRI.TO) investor relations, public relations and multimedia services businesses, during the quarter. It also completed a $750 million deal to buy electronic Treasuries-trading platform eSpeed from BGC Partners Inc (BGCP.O).

Stripping out one-time charges related to the deals, Nasdaq earned 62 cents a share. That was a penny shy of what analysts had expected, on average, according to Thomson Reuters I/B/E/S.

Net revenue rose 8 percent to $451 million, ahead of analysts' expectations of $441.4 million. The company said the increase in revenues was driven by acquisitions and organic growth in all of its business segments.

Reporting by John McCrank; Editing by Lisa Von Ahn and Alden Bentley

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