So far, so good.
That’s what executives at NasdaqOMX must be thinking as the exchange posted second quarter net revenues of $523 million, which was up 16 percent on a year-over-year basis ($451m). Also, the bourse achieved 9 percent growth across the non-transactional segments such as Information Services, Technology Solutions, and Listing Services.
Not bad for a trading year when the markets were rocked by Michael Lewis’ “Flash Boys” book, political and regulatory posturing by the Washington D.C. crowd and an investing public that still doesn’t trust Wall Street.
Nasdaq also posted second quarter 2014 non-GAAP diluted earnings per share of $0.70, a 13 percent increase year-over-year. Second quarter 2014 GAAP diluted EPS was $0.59.
“Once again, our diverse businesses generated solid organic growth in revenues despite a continued low volatility trading environment,” said Bob Greifeld, CEO, NASDAQ OMX, in a statement. “NASDAQ OMX’s strong and improving competitive position, as measured by the 59% win rate in U.S. IPO listings and increased market share in cash equity trading coupled with the continued client traction in our technology and information businesses, provides confidence in the balance and diversity of our model to succeed in all cycles.”
Second quarter 2014 non-GAAP diluted earnings per share was $0.70, compared to $0.62 in the prior year quarter. On a GAAP basis, net income attributable to NASDAQ OMX for the second quarter of 2014 was $101 million, or $0.59 per diluted share, compared with $88 million, or $0.52 per diluted share, in the prior year quarter.
