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Nasdaq profit beats on robust demand for investment products

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The Nasdaq brand is displayed on the Nasdaq Market web site in New York September 2, 2015. REUTERS/Brendan McDermid

Oct 20 (Reuters) – Nasdaq Inc on Wednesday reported a third-quarter revenue that topped Wall Road estimates, helped by robust demand for its investment-related merchandise and a bounce within the variety of preliminary public choices.

Whereas the transatlantic change operator is greatest identified for its bourses, Nasdaq has tried to push into the anti-money laundering software program sector and reposition itself as a number one monetary expertise and knowledge vendor.

Nasdaq reported an adjusted revenue of $1.78 per share for the quarter ended Sept. 30. Analysts had been anticipating $1.72 per share, in keeping with IBES knowledge from Refinitiv.

Income from the corporate’s options segments jumped 19% bounce to $541 million, boosted by robust demand for its merchandise tied to Nasdaq’s indexes. The unit’s efficiency was additionally helped by the inclusion of Verafin, an anti-financial crime software program agency the change operator purchased for $2.75 billion late final 12 months.

Within the quarter, the change welcomed 147 IPOs representing $29 billion of capital raised. Of the IPOs, 80 had been working corporations like Robinhood Markets Inc and Freshworks Inc , whereas the remaining had been particular objective acquisition corporations.

Nasdaq mentioned its European exchanges welcomed 25 IPOs through the interval.

The corporate’s web revenues rose 17% to $838 million within the quarter. Market providers income rose 15% to $295 million.

The change operator purchased again $475 million price of widespread shares within the quarter, it mentioned.

Reporting by Niket Nishant in Bengaluru and John McCrank in New York; Enhancing by Shailesh Kuber

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