Nasdaq Overcomes Slowdown, 3Q Net Surges 90%

Withstanding the trading slowdown on Wall Street, Nasdaq OMX (NASDAQ:NDAQ), the operator of the Nasdaq Stock Market, said Friday its profits soared by a stronger-than-expected 90% in the third quarter.

The exchange operator said it earned $101 million, or 50 cents a share, last quarter, compared with a profit of $60 million, or 28 cents a share, a year before. The 2009 results included a 14-cent charge.

Revenue climbed 6.6% to $373 million.

The results topped estimates from analysts, who projected EPS of 46 cents on revenue of $370 million.

“Despite lower industry trading volumes, we delivered exceptional results this quarter,” CEO Bob Greifeld said in a statement. “This performance can be attributed to the success we've had in diversifying our business and identifying opportunities to deliver value-added products and services to our customers.”

Nasdaq said its total matched market share of U.S. equities reached 22.3% in the third quarter, compared with 22.8% in the second quarter and 22.1% a year earlier.

Underscoring the slowdown in trading, share volume totaled just 107.8 billion shares last quarter, down from 147.9 billion the prior quarter and 131.4 billion in the third quarter of 2009.

New listings totaled 45 last quarter, compared with 65 in the second quarter and 35 a year earlier.

Nasdaq’s stock responded well to the earnings and revenue beat, rising 1.44% to $21.20 ahead of Friday’s open. The stock has risen more than 5% year-to-date.