Nasdaq revenue rises 14.6% on higher trading volumes
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April 25 (Reuters) - U.S. exchange operator Nasdaq Inc on Wednesday reported a 14.6 percent rise in quarterly revenue, helped by higher trading volumes.
Revenue from market services, the company's largest business which oversees transactions, clearing and settlements, rose 21.3 percent to $735 million.
Heightened volatility in February, after a prolonged calm in 2017, roiled global equities, bonds, currencies and commodities, markets, and remained elevated through the end of March, helping Nasdaq book gains in the first quarter.
Revenue from the market technology unit, one of Nasdaq's non-trading businesses, rose 7.7 percent to $70 million, while revenue from information services rose 26 percent to $174 million.
Since Chief Executive Adena Friedman took over the helm early last year, Nasdaq has set focus on its non-trading related businesses, viewing them as long-term growth drivers.
The company's net income attributable rose to $177 million, or $1.05 per share, in the first quarter ended March 31, from $168 million, or 99 cents per share, a year earlier.
On an adjusted basis, the company earned $1.24 per share.
Operating expenses rose 17.3 percent to $393 million.
The company lowered its full-year adjusted operating expense forecast to a range of $1.30 billion to $1.34 billion from $1.38 billion to $1.42 billion, largely to reflect the closing of the divestiture of the public relations solutions and digital media services businesses in April.
Revenue, excluding transaction-based expenses, rose to $666 million from $581 million.
(Reporting by Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila)