July 25, 2018 / 11:02 AM / a month ago

Exchange operator Nasdaq's quarterly profit rises 11 pct

July 25 (Reuters) - Nasdaq Inc reported an 11 percent rise in quarterly profit on Wednesday, helped by a boost in its newer businesses that provide a broader range of news and other information used by traders.

Revenue from Nasdaq’s information services unit rose 21.5 percent to $175 million, while revenue from its market technology unit was up 13.8 percent at $66 million.

Exchange operators have been diversifying from stock-based transaction businesses and focusing on market technology and information services.

The new business lines provide information to investors to make investment decisions and trade in stocks and other exchange-traded products electronically.

Market services revenue, the fees the exchange operator earns from stock-based transactions, rose 4.7 percent to $649 million.

Net income attributable to Nasdaq rose to $162 million, or 97 cents per share, in the second quarter ended June 30, from $146 million, or 87 cents per share, a year earlier.

Excluding items, the transatlantic exchange operator earned $1.18 per share, marginally beating analysts’ estimate of $1.17 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.

Revenue, excluding transaction-based expenses, rose to $615 million from $596 million.

Corporate services, which includes market listings, rose 7.4 percent to $131 million. (Reporting by Diptendu Lahiri in Bengaluru Editing by Supriya Kurane)

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