Business

Nasdaq reports better than expected second-quarter earnings

Nasdaq OMX Group Inc. reported better-than-expected second-quarter results Wednesday, sending its shares higher.

The company, which operates the Nasdaq stock exchange, said that net income rose to $93 million, or 53 cents per share, for the three months ended June 30 from $92 million, or 51 cents per share, a year ago.

After excluding one-time charges, it earned 64 cents per share. That topped the 60 cents per share forecast by analysts polled by FactSet.

Revenue also beat expectations. Net revenue rose 2 percent to $424 million from $415 million a year ago. Analysts expected revenue of $407 million.

The company said that revenue was crimped by lower trading activity in the U.S. and Europe, where investors are concerned about sluggish economic growth and a spiraling debt crisis. But revenue rose in the unit that offers access and broker services, such as the technology to help companies clear trades, partly because Nasdaq upgraded its technology offerings.

It’s been a trying quarter for the stock exchange, which thought it had a coup when it persuaded Facebook to list there instead of on the rival New York Stock Exchange when it went public in May. But Facebook’s public debut was marred with problems, including technological glitches that kept investors from knowing whether they had bought or sold shares.

Nasdaq has offered to pay back investment firms whose clients lost money because of the computer glitches, but some firms have complained that the refunds aren’t nearly enough.

Shares rose 95 cents, or 4.4 percent, to $22.78 in morning trading. Its shares are down almost 17 percent since peaking for the past year at $27.34 in late March.