Nasdaq Profits Surges on Gain From Sale

NEW YORK — Nasdaq Stock Market Inc., the nation's largest electronic exchange, said Wednesday its third-quarter profit surged as it booked big gains on the sale of its 31 percent stake in the London Stock Exchange Group plc.

Profit rose to $365 million, or $2.41 per share, from $30.2 million, or 22 cents per share, in the year-earlier period. In addition to $431.4 million in pretax gains tied to the sale of the LSE stake, results included $35.2 million in gains on foreign currency option contracts as well as charges of about $26 million.

Excluding the items, earnings totaled $62.1 million, or 42 cents per share.

Revenue rose 23 percent to $210 million from $171.2 million a year earlier.

Analysts surveyed by Thomson Financial predicted, on average, that Nasdaq would post earnings of 39 cents a share on revenue of $209.7 million.

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