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Nasdaq Inc. reported stronger earnings and revenue for the first quarter in part due to stronger trading and listing activity.

The exchange operator on Wednesday said it earned net income attributable to the company of $298 million, up from $203 million in the year-earlier period.

Profit increased to $1.78 from $1.22 on a per-share basis. After adjustments, Nasdaq’s earnings amounted to $1.96 a share.

Revenue increased to $851 million from $701 million.

Analysts expected the company to earn $1.74 a share in adjusted profit and $815 million in revenue.

The company’s market services unit, its largest, saw revenue increase 20% year over year to what the company said was a record $338 million. Higher U.S. industry trading volumes helped results, Nasdaq said.

In another business segment, the New York company reported a 31% increase in revenue tied to listing services thanks in part due to an increase in the overall number of listed companies, Nasdaq said.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

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