NASDAQ (NASDAQ: NDAQ) reported Q1 EPS of $1.24, $0.06 better than the analyst estimate of $1.18. Revenue for the quarter came in at $666 million versus the consensus estimate of $641.82 million.

• First quarter 2018 net revenues1 were $666 million, a 15% increase compared to the first quarter of 2017.
• Organic growth in net revenues during the first quarter totaled 9%, with positive contribution from all four segments.
• First quarter 2018 GAAP diluted EPS was $1.05 compared to $0.99 in the first quarter of 2017, while non-GAAP diluted EPS2 was $1.24, an increase of 31% from the first quarter of 2017.
• During the first quarter of 2018, the company repurchased common shares valued at $99 million. Dividends paid and share repurchases totaled $162 million in the first quarter, and on March 28, 2018, the company announced a 16% increase in the quarterly dividend to $0.44 per share.
• As announced on April 16, 2018, the company achieved another milestone in its strategic pivot by completing the sale of the Public Relations Solutions and Digital Media Services businesses. The company plans to return the after-tax net proceeds of the sale to shareholders through additional equity repurchases and expects to continue to balance our investment activities toward Market Technology and Information Services.

UPDATING 2018 NON-GAAP EXPENSE GUIDANCE3

The company is lowering its 2018 non-GAAP operating expense guidance to $1,295 to $1,335 million versus prior expense guidance of $1,375 to $1,415 million, largely to reflect the closing of the divestiture of the Public Relations Solutions and Digital Media Services businesses in April.

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