(Bloomberg) -- Hong Kong Exchanges & Clearing Ltd., operator of Asia's third-biggest stock market, said first- quarter profit jumped 93 percent to a record on a surge in trading. The company's shares rose after the announcement.
Net income rose to HK$922.5 million ($118 million) from HK$478.8 million a year earlier on a 64 percent gain in revenue, the company said in a statement. Quarterly profit beat the HK$860.4 million expected by Michael Chan, an analyst at JPMorgan & Chase Co., according to a May 7 report.
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