NASDAQ, Inc. (NASDAQ: NDAQ) announced its financial results for the fourth quarter of fiscal 2017 on Wednesday.
For the fourth quarter, the exchange operator announced net revenue of $635 million, rising 6% from the number in the same period last year. The increase in revenue was partly due to group’s non-trading related businesses faster growth rate than trading-related businesses.
Nasdaq reported its net profit of $246 million, or $1.45 per share for the fourth quarter, compared with the result for the same period last year. Adjusted earnings per share was $1.05, which surpassed the analysts’ estimate of $1 per share.
“We achieved strong results in the fourth quarter and full year of 2017 through an intense focus on our clients and strong execution against our business priorities,” Adena Friedman, the President and CEO of Nasdaq, said in the press release on Wednesday. “All of us at Nasdaq are aligned around these priorities and look forward to another productive year.”
“In 2017, we successfully executed against our integration, efficiency and capital return plans, exceeding our initial $60 million synergy target related to the 2016 acquisitions, increasing our operating margin, and returning 65% of non-GAAP net income to shareholders through dividends and share repurchases,” Michael Ptasznik, the Executive Vice President and Chief Financial Officer of Nasdaq, said on Wednesday.
On Wednesday, Nasdaq also declared a regular quarterly dividend of $0.38 per share on common stock, which is payable on March 30, 2018 to shareowners.