Jim Cramer Blog

Nasdaq Stock Market Inc., the world's largest electronic equities exchange, said Tuesday its fourth-quarter profit more than tripled on higher trading fees and a one-time gain from its 30 percent stake in the London Stock Exchange. Nasdaq shares plunged more than 10 percent.

The No. 2 U.S. stock exchange -- which on Saturday failed in its $5.3 billion hostile takeover of the LSE -- reported profit during the quarter rose to $63 million, or 43 cents per share, compared with $17.1 million, or 15 cents per share, a year earlier. The company had a gain of 19 cents per share from option contracts used to hedge its exposure to the LSE.
Stripping out the gains, the results matched Wall Street projections for earnings of 24 cents per share, according to analysts polled by Thomson Financial. Operating income rose to $68.1 million from $33.2 million a year ago.
Revenue surged 73 percent to $447.3 million from $259.5 million as the exchange charged more for stock trades and lured more business away from rival New York Stock Exchange. Analysts expected $424.8 million.