July 23 (Reuters) – Nasdaq reported a jump in second-quarter profit on Thursday, boosted by several high-profile listings on its exchange and strong demand for its data services in a volatile market environment.
The company reported a net income of $507 million, or 89 cents per share, for the three months ended June 30, compared with $452 million, or 78 cents per share, a year earlier.
The quarter was marked by a string of marquee listings on its exchange, including SpaceX’s record-breaking IPO, which saw trading volume surpass 500 million shares on the first day.
While IPOs generate negligible fees from the listing itself, trading in equities, options and related market services drive robust revenue for exchanges.
The period was also highly lucrative for trading businesses, which typically benefit during periods of high volatility, as a wave of headlines about the U.S.-Iran war and shifting sentiment on the AI trade led to market swings and drove up demand for hedging.
Nasdaq has also diversified its business to mitigate the impact of fluctuating trading volumes by expanding its financial technology and software offerings, unlocking recurring revenues.
The firm posted net revenues of $1.5 billion for the quarter, a 15% increase, largely driven by the strong performance of its capital access platforms segment.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Maju Samuel)
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