By Matt Grossman
Nasdaq Inc. reported stronger earnings in its latest quarter on Wednesday, as growth in the company’s existing business as well as new acquisitions helped boost revenue.
The New York-based stock operator posted earnings of $1.53 per share, compared with $1.34 per share in the year-ago quarter. Net income was $259 million, down from $224 million 12 months ago.
Excluding one-time items, Nasdaq adjusted earnings were $1.93 per share. Analysts polled by FactSet had forecast adjusted earnings of $1.78 per share.
Revenue rose to $1.47 billion from $1.46 billion 12 months earlier.
Net revenue increased 12% to $885 million from $788 million. Analysts had forecast net sales of $866 million. The improvement reflected a $78 million increase in organic growth and a $26 million increase in acquisitions, the Nasdaq said.
“We entered 2022 from a position of strength in all our businesses, ready to seize secular growth opportunities as we continue to play our part in increasing investor participation, optimizing capital formation and boosting the efficiency and resilience of the global financial system,” Chief Executive Adena Friedman said.
The shares rose 1.7% in premarket trading on Wednesday morning.
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