NASDAQ OMX Group, Inc. (NDAQ) Tops Q2 EPS by 2c

NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) reported Q2 EPS of $0.70, $0.02 better than the analyst estimate of $0.68. Revenue for the quarter came in at $523 million versus the consensus estimate of $517.2 million.

Highlights:

• Second quarter 2014 net revenues1 were $523 million, up 16% year-over-year.
• Achieved 4% organic revenue growth2 year-over-year, and saw 9% organic growth across the non-transactional segments: Information Services, Technology Solutions, and Listing Services.
• Generated second quarter 2014 non-GAAP diluted EPS of $0.70, a 13% increase year-over-year. Second quarter 2014 GAAP diluted EPS was $0.59.
• Non-transaction based revenues were 74% of our total second quarter 2014 net revenues, and increased 19% from the prior year quarter.
• Announcing reduction of Non-GAAP operating expense guidance for 2014, reflecting the impact of recent industry volume levels and certain management cost actions.
• The company paid down $100 million of debt in the second quarter and returned to its long-term leverage target. Completing this de-leveraging allowed a resumption of the buyback program and $93 million of stock was repurchased during the period.

"Once again, our diverse businesses generated solid organic growth in revenues despite a continued low volatility trading environment," said Bob Greifeld, CEO, NASDAQ OMX. "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."

For earnings history and earnings-related data on NASDAQ OMX Group, Inc. (NDAQ) click here.

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