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Nasdaq OMX reaches 52-week high, Q3 sales up

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Shares of Nasdaq OMX Group (NASDAQ:NDAQ) bounced to a 52-week high after it reported double-digit gains in revenue to its highest-ever total.

The acquisitions of eSpeed and Thomson Reuters’ IR, PR & multimedia businesses drove the exchange operator’s sales 23% higher in the third quarter to US$506 million, compared with US$412 million in last year’s same three-month period.

Net income rose 27% to US$113 million, or 66 cents a share, beating the analyst consensus by four pennies. Nasdaq earned US$89 million or 52 cents a share in the same period a year ago.

Shares lately were 4.8% higher, after touching a session high of $35.22. The stock has soared 40% so far this year.

Nasdaq narrowed its expense guidance for 2013 to the lower end of the previous projection. The company now expects its full-year total to be between US$1.08 to US$1.09 billion, from the previous US$1.07 to US$1.1 billion range.

Operating expenses grew 26% in the third quarter to US$304 million from US$242 million a year, attributable to the acquisitions.

During the period, Nasdaq said it paid off $98 million of its debt, bringing its long-term obligations as of the end of September to US$2.7 billion.

Quick facts: NASDAQ OMX Group, Inc.

Price: 127.38 USD

NASDAQ:NDAQ
Market: NASDAQ
Market Cap: $20.92 billion
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