The Nasdaq ( NDAQ) and Chicago Board of Trade ( BOT) both posted higher quarterly earnings Thursday, as trading remained brisk on their stock and derivatives exchanges. At the Nasdaq, the profit improvement was moderated by charges related to the acquisition of the London Stock Exchange and INET, but revenue nearly doubled because of acquisitions and higher trading volume. The stock exchange operator earned $16.6 million, or 13 cents a share, in the second quarter, up from $14 million, or 16 cents a share, a year ago. Total revenue was $411 million, up from $219.7 million. Analysts were expecting profits of 8 cents per share on revenue of $393.32 million. "Solid execution of our growth strategy throughout the organization drove Nasdaq's strong top-line performance," the company said. "Looking into the second half of 2006, we are maintaining our consistent focus on innovation and execution that anticipates and responds to the needs of our customers." The Nasdaq spent much of the second quarter buying up shares of the London Stock Exchange, a strategic move that occurred as rival NYSE Group ( NYX) appeared poised to acquire Euronext. The 25% LSE stake gives the Nasdaq a share of the London company's earnings that came out to $9.2 million in the most recent quarter. The Nasdaq also recorded an $8.2 million currency gain due to the share acquisitions in the second quarter; both items were offset by a $20.9 million charge related to the borrowings used to buy the shares. The company also had a $17.9 million charge related to the integration of the INET platform. The solid second-quarter earnings prompted the company to raise its full-year guidance. Nasdaq now sees net income of $68 million to $78 million for the year, which includes the impact of charges associated with a cost-reduction program, INET integration, and the LSE debt.