Nasdaq profit tops Wall Street expectations as software services rise, announces stock split

Nasdaq Inc (NASDAQ: NDAQ) on Wednesday reported better-than-expected quarterly profits as traders turned to the exchange operator’s investment-related products to steer through market volatility.

The exchange also announced a 3-for-1 stock split in the form of a stock dividend and a regular quarterly dividend of $0.20 per share.

Shares of New York-based Nasdaq jumped more than 6% shortly after the market opened, their highest since April 22.

After deducting one-time items, including a gain from the divestiture of the company’s fixed income business from last year’s quarter, Nasdaq earned $2.07 per share, well above analysts’ average estimate of $1.91 per share.