Independent Bank (US:INDB)2021-04-23 16:18Financial Highlights - Nasdaq's 1Q21 non-GAAP net revenues totaled $851 million[2] - Solutions Segments revenues increased by 22%, or $93 million year-over-year, reaching $513 million[3,4,6] - Market Services net revenues increased by 20%, or $57 million year-over-year, reaching $338 million[5,6] - Non-GAAP diluted EPS grew by 31% year-over-year[1,6], reaching $1.96[6] - Annualized Recurring Revenues (ARR) reached $1.76 billion in 1Q21, a 21% year-over-year increase[1] Segment Performance - Investment Intelligence net revenue increased by 22% to $258 million, with operating income up 25% to $167 million[9] - Market Technology net revenue increased by 23% to $100 million, driven by 59% growth in Anti Financial Crime Technology revenues[13] - Corporate Platforms net revenue increased by 21% to $155 million, with Listing Services revenues up 31%[15] - Market Services net revenue increased by 20% to $338 million, driven by increases in Equity Derivative Trading and Clearing (up 13%) and Cash Equity Trading (up 36%)[18] Expense and Debt - Total non-GAAP operating expenses for 1Q21 were $393 million[6,20] - 1Q21 debt increased by $349 million compared to 4Q20, primarily due to net issuances of $435 million of Commercial paper for the Verafin acquisition[23]