Updated to clarify that the company's latest results came in ahead of Wall Street's expectations on a non-GAAP basis, adds recent share price.

NEW YORK ( TheStreet) -- Shares of Nasdaq OMX Group ( NDAQ) rose Tuesday after the exchange operator topped Wall Street expectations with its second-quarter results.

Before the opening bell, the company reported a profit of $96 million, or 46 cents a share, for the three months ended June 30. Excluding $16 million in assorted charges, Nasdaq earned $108 million, or 52 cents a share, on a non-GAAP basis in the June period. Revenue rose 8% in the latest three months to $390 million.

The average estimate of analysts polled by Thomson Reuters was for a profit of 49 cents a share in the quarter on revenue of $377.1 million.

The latest performance was also well above earnings of $61 million, or 28 cents a share, in the first quarter, and $69 million, or 33 cents a share, in the same period a year earlier.

Nasdaq OMX's earnings per share figure got a boost of 2 cents this time around from the repurchase of $200 million worth of common stock in the quarter, and the company boosted the cap on its current buyback program by an additional $100 million to $400 million.

"The $200 million of share repurchases that we executed enabled us to buy back 10 million shares and deliver $0.02 EPS accretion to shareholders this quarter, and we remain committed to executing the remainder of the plan up to the $400 million authorized amount," said Adena Friedman, the company's chief financial officer, in a press release.

CEO Bob Greifeld attributed growth to strength in the IPO market, as well as already-listed companies that opted to locate shares on Nasdaq as well. Greifeld said the firm also lifted revenue by providing more services to corporations.

"These results demonstrate that our diversified business model is capable of delivering solid results while simultaneously allowing us to pursue growth initiatives to drive our business forward," said Greifeld.

The stock was up 3.3% to $19.62 in recent action.

-- Written by Lauren Tara LaCapra in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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