Nasdaq earnings slip on deal costs, while revenues rise
Nasdaq OMX Group reported on Wednesday a lower second-quarter profit, mainly due to acquisition costs related to the closing of two deals by the transatlantic exchange operator.
Net income attributable to Nasdaq totaled $88 million, or 52 cents per diluted share, down from $93 million, or 53 cents a diluted share, a year earlier.
Nasdaq closed a $390 million deal to buy Thomson Reuters's investor relations, public relations and multimedia services businesses, during the quarter. It also completed a $750 million deal to buy electronic Treasurys-trading platform eSpeed from BGC Partners.
Nasdaq shares traded lower following the report. (Click here for the latest pre-market quote.)
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Stripping out one-time charges related to the deals, Nasdaq earned 62 cents a share. That was a penny shy of what analysts had expected, on average, according to Thomson Reuters I/B/E/S.
Net revenue rose 8 percent to $451 million, ahead of analysts' expectations of $441.4 million. The company said the increase in revenues was driven by acquisitions and organic growth in all of its business segments.
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