Nasdaq, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company announced revenues less transaction-based expenses of $635 million compared to $599 million a year ago. Operating income was $243 million compared to $213 million a year ago. Income before income taxes was $214 million compared to loss of $404 million a year ago. Net income attributable to the company was $246 million compared to loss of $224 million a year ago. Diluted earnings per share were $1.45 compared to basic and diluted loss per share of $1.35 a year ago. The fourth quarter increase in net revenues included a $17 million, or 3%, increase due to organic growth, a $12 million favorable impact from changes in foreign exchange rates and a $7 million impact from acquisitions. Non-GAAP net income attributable to company was $179 million or $1.05 per diluted share compared to $161 million or $0.95 per diluted share a year ago. Non-GAAP operating income was $294 million compared to $275 million a year ago.

For the year, the company announced revenues less transaction-based expenses of $2,428 million compared to $2,277 million a year ago. Operating income was $999 million compared to $839 million a year ago. Income before income taxes was $880 million compared to $136 million a year ago. Net income attributable to the company was $734 million compared to $108 million a year ago. Diluted earnings per share were $4.33 compared to diluted earnings per share of $0.64 a year ago. The full year increase in net revenues included a $52 million increase due to organic growth, a $9 million favorable impact from changes in foreign exchange rates and a $90 million impact from acquisitions. Non-GAAP net income attributable to company was $688 million or $4.06 per diluted share compared to $621 million or $3.68 per diluted share a year ago. Non-GAAP operating income was $1,148 million compared to $1,055 million a year ago.

The company provided earnings guidance for the year 2018. The company expects 2018 non-GAAP operating expenses of $1,375 million to $1,415 million.  The guidance assumes a full year, or approximately $170 million, of expenses associated with the Public Relations Solutions and Digital Media Services businesses, which the company has announced an agreement to sell.  The company will provide an update to the full year expense guidance after the transaction is closed.  The company expected its 2018 non-GAAP tax rate to be in a range of 24.5% to 26.5%.