SATLANTIC exchange operator Nasdaq OMX Group yesterday reported a higher third-quarter profit that beat expectations, as recent acquisitions helped boost revenues.
The company earned 66 cents per share, topping the consensus of analysts by four cents.
The results came despite what Nasdaq chief executive Robert Greifeld said was a very difficult environment.
“The transaction business is still going through difficult times, our customers are not thriving, and we just feel like we have to navigate around headwinds,” he said.
Nasdaq paid down $98m in debt in the last quarter and expects to return to its long-term leverage target in the first half of 2014.
Net income attributable to Nasdaq in the quarter was $113m, up from $89m a year earlier. Revenue rose 23 per cent to $506m, versus expectations of $502.6m.