Market data specialist, Interactive Data Corporation, has reported its financial results for the second quarter ended June 30, 2013. The firm’s revenue increased 1.7% in Q2 this year to $225.1 million from $221.2 million a year earlier.
Interactive Data’s second-quarter 2013 income from operations was $49.6 million, a 29.5% increase over income from operations of $38.3 million in the same quarter one year ago. Non-GAAP adjusted EBITDA (which excludes items that are either not part of the Company’s ongoing core operations, or do not require a cash outlay, or are not otherwise expected to recur in the ordinary course) for the second quarter of 2013 increased 3.0% to $88.3 million from $85.7 million in the same quarter one year ago.
“In the face of market conditions that have remained suboptimal, we grew organic revenue, adjusted EBITDA and free cash flow during the second quarter of 2013,” stated Mason Slaine, Interactive Data’s chairman, president and chief executive officer in the press briefing. “Our organic revenue growth in the second quarter of 2013 reflects continued strength in our Pricing and Reference Data segment. We produced strong adjusted EBITDA margins and free cash flow as we balanced prudent expense management with investments to drive product innovation and reengineer our technical infrastructure. In particular, our investment in key product development programs across our business has enabled us to bring a number of enhanced offerings to the marketplace over the past several months, and we are pleased with the response from customers and prospects thus far.”
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Among the firms diverse range of products for financial services companies are its market data products. Interactive Data provider brokerages access to low latency exchange and OTC instruments data.
Interactive Data provides access to over 150 exchanges, since the global recession of 2008 Asia has been spear heading the set up of new commodities exchanges.
Commenting about the rise in commodities exchanges’ in Asia, a spokesperson at Interactive Data said to Forex Magnates: “They (Commodities exchanges in Asia) are becoming the leaders in terms of new or potential exchanges because the region is the leading consumer and producer of global commodities, from oil and steel through to certain precious metals. It is a large producer of raw materials, for example, the mining sector in Australia, palm oil in Indonesia and because of these two related factors is the major centre for manufacturing and shipping.”