Nasdaq OMX Group profit rises on cost cuts

[November 05, 2009]  NEW YORK (AP) -- Global exchange operator Nasdaq OMX Group says its third-quarter profit edged higher amid cost cutting and fewer special charges.

Amid an increasingly competitive marketplace, Nasdaq OMX Group's revenue dipped 10 percent. However it was able to offset some of that decline by reducing costs.

New York-based Nasdaq OMX says it earned $60 million, or 28 cents per share, during the quarter ended Sept. 30. It earned $58 million, or 27 cents per share, during the year-ago period.

Adjusted earnings totaled $89 million, or 42 cents per share, during the most recent quarter.

Analysts polled by Thomson Reuters, on average, forecast earnings of 42 cents per share on revenue of $354.9 million.

Nasdaq OMX's revenue fell to $349 million.

[Associated Press]

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