Nasdaq tops profit estimates on high-profile listings, robust data revenue

July 23 (Reuters) - Nasdaq NDAQ.O beat Wall Street estimates for second-quarter profit on Thursday, boosted by several high-profile listings on its exchange and strong demand for its data services in a volatile market environment.

The quarter was marked by a string of marquee listings on its exchange, including SpaceX's SPCX.O record-breaking IPO, which saw trading volume surpass 500 million shares on the first day.

While IPOs generate negligible fees from the listing itself, trading in equities, options and related market services drive robust revenue for exchanges.

The period was also highly lucrative for trading businesses, which typically benefit during periods of high volatility, as a wave of headlines about the U.S.-Iran war and shifting sentiment on the AI trade led to market swings and drove up demand for hedging.