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NASDAQ OMX Reports Record First Quarter 2014 Results

  • First quarter 2014 net revenues 1 were a record $529 million, up 27% from the prior year quarter.
  • Achieved 9% organic revenue growth 2 year-over-year and had organic growth in all segments: Information Services, Market Services, Technology Solutions, and Listing Services.
  • Generated record first quarter 2014 non-GAAP diluted EPS of $0.72, which was 13% higher year-over-year. First quarter 2014 GAAP diluted EPS was $0.59. Non-transaction based revenues were 72% of our total first quarter 2014 net revenues, and increased 27% from the prior year quarter.
  • The company paid down $121 million in debt in the period, and the deleveraging plan remains on schedule to return NASDAQ OMX to its long-term leverage target by the end of the second quarter of 2014.

NEW YORK, April 24, 2014 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today reported results for the first quarter of 2014. First quarter net revenues were $529 million, up from $418 million in the prior year period, driven by both acquisitions and organic growth in all four business segments. On an organic basis, first quarter net revenues increased 9% year-over-year.

"Our unique and diverse mix of businesses accelerated meaningfully, resulting in record financial results for our shareholders," said Bob Greifeld, CEO, NASDAQ OMX. "After a 2013 which included transformative acquisitions and significant internal investments, NASDAQ OMX has begun 2014 with strong broad-based organic growth."

Mr. Greifeld continued, "While we have benefited from a more constructive market environment, we also saw meaningful improvement in our leadership position in the period, as evidenced by our higher U.S. and European equity trading market share, and our 64% share of U.S. IPOs. Regarding the recent elevated debate over various U.S. equity market structure issues, NASDAQ OMX operates its leading exchanges with transparency, fairness, and efficiency, has been a leading innovator, and will continue to work with regulators and market participants to evolve our markets."

On a non-GAAP basis, first quarter 2014 operating expenses were $315 million, up 33% as compared to the prior year quarter, primarily due to the inclusion of expenses associated with the acquisitions of the Thomson Reuters IR, PR and Multimedia businesses and the eSpeed electronic fixed income trading platform. On an organic basis, first quarter non-GAAP operating expenses were up 6%. On a GAAP basis, operating expenses were $345 million in the first quarter of 2014, up 5% compared to $328 million in the prior year quarter.

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