DJ Nasdaq's Market-Services Revenues Rise 22% in 2Q
By Allison Prang
Nasdaq Inc.'s revenue and profit both increased in the second quarter as record trading volumes helped boost market-services revenues by 22%.
Nasdaq's profit in the quarter that ended last month rose 39% to $241 million. Earnings were $1.45 a share, up from $1.04 a share.
The stock exchange owner said adjusted earnings were $1.54 a share. According to FactSet, analysts were expecting $1.45 a share.
Revenues, less transaction-based expenses, was $699 million, up 12%. Analysts were expecting $684.2 million.
Market-services revenues were driven by record trading volumes in U.S. equities and options, Nasdaq said. Non-trading segments revenues also grew.
Nasdaq said it still sees some short-term uncertainties in the business climate due to the coronavirus pandemic's impact on the economy.
"As the pandemic continues into the latter half of the year, we continue to invest in our infrastructure to support the strong demand for our products and services as well as provide the capital and resources to deliver on our most important long-term opportunities," said said Michael Ptasznik, executive vice president and chief financial officer .
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(END) Dow Jones Newswires
July 22, 2020 07:19 ET (11:19 GMT)
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