(Reuters) - U.S. exchange operator Nasdaq Inc (NDAQ.O) beat analysts’ estimates for second-quarter profit on Wednesday, as a boost in its non-trading businesses, including information services, overshadowed a softer trading environment.
Nasdaq has been diversifying from its core trading business to focus on high-growth areas such as market technology and information services which help traders make investment decisions.
Revenue from its information services unit jumped about 11% to $194 million, and revenue at its market technology unit surged 20% to $79 million.
Revenue at the company’s market services unit, its biggest business, fell about 4% to $227 million, due to a softer trading environment.
Net income attributable to Nasdaq rose to $174 million, or $1.04 per share, in the second quarter ended June 30, from $162 million, or 97 cents per share, a year earlier. [reut.rs/2Z7cJV7]
Excluding one-time items, the company earned $1.22 per share, while analysts were looking for $1.20 per share, according to IBES data from Refinitiv.
Revenue, excluding transaction-based expenses, rose 1.3% to $623 million.
Reporting by Bharath Manjesh in Bengaluru; Editing by Saumyadeb Chakrabarty and Shailesh Kuber