By Nasdaq, the exchange operator, announced its earnings for the third quarter, revealing a flat profit of $294 million compared to the same period last year. However, Nasdaq’s operating revenue exceeded expectations, showing a steeper increase than anticipated.
Earnings and Revenue
- Net earnings remained unchanged from Q3 of the previous year at $294 million.
- Adjusted earnings, excluding one-time items, reached 71 cents per share, surpassing analyst expectations of 69 cents per share.
- Total revenue for the quarter decreased to $1.45 billion from $1.56 billion in the year-ago quarter.
- Quarterly revenue, excluding transaction-based expenses, rose to $940 million, exceeding analyst projections of $931.1 million.
Business Segments
- Nasdaq’s solutions businesses experienced a revenue growth of 9% to reach $694 million for the quarter.
- Trading services revenue saw a slight decline of 1% and reached $236 million.
Operating Expenses
Operating expenses increased by 3% to $509 million, primarily driven by higher investments in employees, computer operations, data costs, and overhead expenses.
Comments