Nasdaq Beats Projections as Derivatives, Europe Grow
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Nasdaq OMX Group Inc., the owner of the second-largest U.S. stock exchange, reported fourth-quarter profit that beat analyst estimates as derivatives trading increased and its European business boosted revenue. The shares rose the most in two months.
Excluding some items, earnings were 55 cents a share, exceeding the 51-cent average estimate of 21 analysts surveyed by Bloomberg. Total operating expenses will rise in 2011 to $920 million to $940 million, including $25 million in one-time costs, the New York-based company said today in a statement. They totaled $891 million in 2010.