Investing.com -- Euronext reported first-quarter revenue that beat analyst estimates on Tuesday, as high market volatility and strong contributions from recently acquired businesses drove broad-based growth across the pan-European exchange operator's divisions.

Underlying revenue and income for the quarter reached €528.5 million, up 15.3% year-on-year and ahead of the analyst consensus estimate of €512.1 million. On a like-for-like basis at constant currencies, revenue grew 7.6%.

Equity markets was the standout performer, with revenue surging 28.1% to €138.9 million, driven by elevated volatility and growing momentum from Euronext Athens.

Capital Markets and Data Solutions revenue rose 18.2% to €185.9 million, supported by the contribution from Admincontrol and commercial expansion. Securities Services grew 9.8% to €91.6 million.

Adjusted EBITDA rose 16.7% to €343.2 million, with the margin expanding 0.8 percentage points to 64.9%. Adjusted earnings per share came in at €2.13, up 18.3% year-on-year.

Chief Executive Stéphane Boujnah said the results reflected the strength of Euronext's diversified model. "This eighth consecutive quarter of double-digit growth demonstrates how we transformed our vision of integrated European markets into reality," he said.

Boujnah added that primary markets activity "delivered the best first quarter in three years, despite elevated market volatility," supported by what he described as the largest-ever defense IPO globally.