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Nasdaq profit surges 76% on non-trading business strength
[NEW YORK] Exchange operator Nasdaq reported a 76 per cent 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 US$264 million, or US$1.58 per share, for the quarter ended Sept 30, from US$150 million, or 90 cents per share, a year earlier.
Revenue from information services, Nasdaq's biggest non-trading business, rose 20 per cent to US$238 million.
Higher trading volumes helped boost the company's market services unit, its biggest business. Revenue in the segment jumped about 39 per cent to US$958 million.
Excluding transaction-based expenses, revenue rose 13 per cent to US$715 million.