Nasdaq OMX (NDAQ) Jumps On Strong Results
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Price: $92.62 -0.99%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.3%
Revenue Growth %: +8.9%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.3%
Revenue Growth %: +8.9%
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Shares of Nasdaq OMX Group Inc (Nasdaq: NDAQ) are 17% higher today following better-than-expected Q2 results.
NASDAQ reported Q2 earnings of $0.48 per share, above the consensus of $0.43. Revenues came in at $380.2 million, versus the consensus of $372.7 million. Net income rose 45% to $101.6 million.
NASDAQ OMX noted that they have made excellent progress on the integration of its OMX acquisition, realizing the $100 million expense synergies. They now expect this transaction to accrete in first quarter of 2009, significantly ahead of schedule. The company also noted the integration of its most recent acquisition, the Philadelphia Stock Exchange, is also well underway and is expected to accrete by the end of 2008.
NASDAQ reported Q2 earnings of $0.48 per share, above the consensus of $0.43. Revenues came in at $380.2 million, versus the consensus of $372.7 million. Net income rose 45% to $101.6 million.
NASDAQ OMX noted that they have made excellent progress on the integration of its OMX acquisition, realizing the $100 million expense synergies. They now expect this transaction to accrete in first quarter of 2009, significantly ahead of schedule. The company also noted the integration of its most recent acquisition, the Philadelphia Stock Exchange, is also well underway and is expected to accrete by the end of 2008.
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