Nasdaq profit surges 76% on non-trading business strength

FILE PHOTO: The Nasdaq logo is displayed at the Nasdaq Market site in New York, U.S., May 2, 2019. REUTERS/Brendan McDermid

October 21, 2020

(Reuters) – Exchange operator Nasdaq Inc <NDAQ.O> reported a 76% surge in third-quarter profit on Wednesday, boosted by strength in its non-trading businesses and a surge in trading volumes.

Net income attributable to the company rose to $264 million, or $1.58 per share, for the quarter ended Sept. 30, from $150 million, or 90 cents per share, a year earlier.

Revenue from information services, Nasdaq’s biggest non-trading business, rose 20% to $238 million.

Higher trading volumes helped boost the company’s market services unit, its biggest business. Revenue in the segment jumped about 39% to $958 million.

Excluding transaction-based expenses, revenue rose 13% to $715 million.

(Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)

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