Nasdaq Beats Estimates On Non-trading Business Strength; CFO To Retire

9Views

October 21, 2020

Nasdaq Inc beat Wall Street estimates for third-quarter profit on Wednesday, boosted by strength in the transatlantic exchange operator’s non-trading businesses and a surge in trading volumes.

Separately, the company said its Chief Financial Officer Michael Ptasznik will retire effective February 28 and named Ann Dennison to the role. Dennison is currently the company’s senior vice president, controller and chief accounting officer.

For the third quarter, Nasdaq reported an adjusted profit of 1.53 per share, compared to estimates of $1.46 per share, according to IBES data from Refinitiv.

Net income attributable to the company rose to $264 million, or $1.58 per share, for the quarter ended Sept. 30, from $150 million, or 90 cents per share, a year earlier.

Revenue from information services, Nasdaq’s biggest non-trading business, rose 20% to $238 million.

Higher trading volumes helped boost the company’s market services unit, its biggest business. Revenue in the segment jumped about 39% to $958 million.

Excluding transaction-based expenses, revenue rose 13% to $715 million, above Refinitiv IBES estimates of $690.92 million.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Nasdaq Beats Estimates On Non-trading Business Strength; CFO To Retire

Speak Your Mind

LEAVE A REPLY Cancel reply

Get in Touch

Recommend for You

Oh hi there It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

You might also like

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

About Us

Follow Us

Support Us & Be a Patreon

Add QNewsHub to your Homescreen!

Oh hi there
It’s nice to meet you.