Nasdaq, Inc. NDAQ, -0.81% Wednesday reported a 5% rise in quarterly profit and lowered its full-year operating expenses guidance.
The New York, N.Y.,-based stock-exchange operator reported a profit of $177 million, or $1.05 cents a share, compared with $168 million, or 99 cents a share, the same period last year.
Excluding items, Nasdaq reported a profit of $1.24 a share for the quarter. Analysts forecast $1.20 a share, according to FactSet.
Net revenue rose 15% to $666 million from the prior year. Nasdaq said organic net revenue growth came to 9%, with an increase across all four of its business segments.
"We achieved strong results in the first quarter of 2018 through a combination of solid organic growth in our recurring revenues, as well as by maximizing the benefits of higher industry volumes with strong market share," Chief Executive Adena Friedman said in prepared remarks.
Nasdaq lowered its operating expense guidance for 2018 to between $1.295 billion to $1.335 billion, from $1.375 billion to $1.415 billion previously, driven by the sale of its public relations solutions and digital media services businesses in April.
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