“NEW YORK (Reuters) – Nasdaq OMX Group reported a higher fourth-quarter profit on Thursday, as an increase in non-transaction-based revenues outweighed an industry-wide drop in trading volumes.
Net income attributable to the transatlantic exchange operator totaled $85 million, or 50 cents a share, up from $82 million, or 45 cents a share, a year earlier.
Stripping out one-time items including restructuring, merger, and legal expenses, Nasdaq said it earned 64 cents a share. That was 3 cents above analysts’ expectations, on average, according toThomson Reuters I/B/E/S.
Revenues, not including transaction rebates, brokerage, clearance and exchange fees, were $419 million, compared to $420 million a year earlier. Analysts had expected revenue of $412.01 million.
Nasdaq’s results were “driven by a significant pick-up in corporate activity coupled with solid performance in our U.S. options, U.S. proprietary data products and global index businesses,” Bob Greifeld, the company’s chief executive, said in a statement.
Nasdaq has been diversifying away from transaction-based revenues over the past several years, putting more of a focus on business units that provide a steadier income flow through providing services like technology and data to other companies….”
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