NASDAQ Stock Market Inc. (NDAQ) Profit Surges
Nasdaq Stock Market Inc., the nation's largest electronic exchange, said Wednesday its third-quarter profit surged from big gains on the sale of its 31 percent stake in the London Stock Exchange.
Profits rose more than twelvefold to $365 million, or $2.41 per share, from $30.2 million, or 22 cents per share, in the year-earlier period. Along with $431.4 million in pretax gains tied to the sale of the LSE stake, results included $35.2 million in gains on foreign currency option contracts as well as charges of about $26 million.
Excluding the items, earnings totaled $62.1 million, or 42 cents per share.
Net revenue, which excludes liquidity rebates, brokerage, clearance and exchange fees, rose 23 percent to $210 million from $171.2 million a year earlier. Including such expenses, revenue stood at $652 million, a 62 percent increase from $402.9 million a year earlier.
Analysts surveyed by Thomson Financial predicted, on average, that Nasdaq would post earnings of 39 cents a share on net revenue of $209.7 million.
Profits rose more than twelvefold to $365 million, or $2.41 per share, from $30.2 million, or 22 cents per share, in the year-earlier period. Along with $431.4 million in pretax gains tied to the sale of the LSE stake, results included $35.2 million in gains on foreign currency option contracts as well as charges of about $26 million.
Excluding the items, earnings totaled $62.1 million, or 42 cents per share.
Net revenue, which excludes liquidity rebates, brokerage, clearance and exchange fees, rose 23 percent to $210 million from $171.2 million a year earlier. Including such expenses, revenue stood at $652 million, a 62 percent increase from $402.9 million a year earlier.
Analysts surveyed by Thomson Financial predicted, on average, that Nasdaq would post earnings of 39 cents a share on net revenue of $209.7 million.
Labels: Nasdaq Stock Market Inc., NDAQ
posted by Stock Administrator @ 11:49 AM
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