Nasdaq profit beats as fintech sales jump, shares soar

Nasdaq’s (NDAQ.O), opens new tab second-quarter profit topped Wall Street estimates on Thursday, driven by strong demand for its products that help traders navigate compliance requirements and safeguard against financial crimes, sending its shares up about 5%.

The exchange operator, which has expanded beyond trading and listings and strengthened its financial technology unit for more consistent growth, generated $420 million in financial technology revenue during the quarter, a 79% increase year-over-year.

Source: REUTER