July 25 (Reuters) - Nasdaq beat estimates for
second-quarter profit on Thursday, driven mainly by strong
demand for its products that help traders navigate compliance
requirements and safeguard against financial crimes.
To create a more steady and sustainable source of revenue,
the transatlantic exchange operator has expanded beyond trading
and listings and bolstered its financial technology unit.
Revenue from the unit soared nearly 79% to $420 million in
the second quarter, while revenue from its index business jumped
29% to $167 million.
Net revenue jumped 25% to $1.16 billion. Analysts on average
had expected $1.13 billion, according to LSEG data.
The company's adjusted profit of 69 cents per share also
beat analysts' expectations of 64 cents.
A resilient economy has also prompted a surge in new
listings on U.S. exchanges after a slowdown that lasted nearly
two years.
A total of 84 companies listed its shares on the exchange in
the second quarter ended June 30 compared with 62 from a year
ago.
U.S. equity matched shares volumes jumped to 119.3 billion
in the second quarter from 113.7 billion a year earlier. U.S.
equity options volumes also rose to 42.1 million contracts from
39.2 million contracts.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by
Shinjini Ganguli and Saumyadeb Chakrabarty)