NASDAQ (NDAQ) Tops Q1 EPS by 4c, Miss on Revenues

NASDAQ (NASDAQ: NDAQ) reported Q1 EPS of $1.10, $0.04 better than the analyst estimate of $1.06. Revenue for the quarter came in at $583 million versus the consensus estimate of $594.66 million.

Highlights:

• Net revenues1 were $583 million in the first quarter of 2017, an increase of 9% compared to the first quarter of 2016. Subscription and recurring revenues2 in the first quarter of 2017 represented 75% of total net revenues.
• First quarter 2017 GAAP diluted EPS was $0.99, while non-GAAP diluted EPS was $1.103. Compared to the first quarter of 2016, GAAP diluted EPS increased $0.21, or 27%, while non-GAAP diluted EPS increased $0.19, or 21%.
• Revenues in non-trading segments4 in the first quarter of 2017 increased 10% compared to the first quarter of 2016, including organic growth of 5%. Market Technology organic revenue growth was 18% from the prior year period.
• As of March 31, 2017, the company achieved $50 million in annualized run-rate cost synergies out of a targeted $60 million expected within eighteen months of the respective 2016 acquisition closing dates.
• Nasdaq announced a 19% increase in the quarterly dividend to $0.38, and in the first quarter of 2017 repurchased $156 million of its common stock. Dividends and buybacks totaled $209 million during the first quarter of 2017.

For earnings history and earnings-related data on NASDAQ (NDAQ) click here.

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