Nasdaq’s Profits Jump 12% On The Strength Of Higher Trading Volumes

Nasdaq Profits Are Up on higher trading volumes

Nasdaq Inc reported a 12% jump in quarterly profit for Q3 2015. Profits were helped along by higher trading volumes and the company’s recent acquisition of data analytics firm Dorsey Wright.

Net income attributable to Nasdaq was $138 million, or 80 cents per diluted share in the third-quarter. That’s an increase from the $123 million, or 71 cents per share, the company reported one year earlier.

The company earned 88 cents per diluted share, excluding one-time items such as restructuring charges and currency headwinds, Nasdaq reported on Thursday.

Analysts had estimated earnings of 86 cents per share.

Revenue at the company, excluding transaction related expenses, rose by 6.4% to $529 million.

Net revenue from market service increased by 5.8% to $200 million, boosted by strong cash equity trading volumes.

Information services revenue, including market data and index licensing and services, rose 15.8% to $132 million.

The company also announced on Thursday that it had purchased equity management firm SecondMarket Solutions Inc for an undisclosed amount.

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Written by Lane Hanson

Lane Hanson

Lane Hanson is BusinessPundit's Economy Editor. He reports on major changes in the US and Global Economies.