Following on from a solid final quarter of last year, Nasdaq has released its financial results for the first quarter of this year, revealing a year-on-year drop of $32 million in net revenues.
For the first quarter of 2019, net revenues for the US-based exchange operator came in at $634 million. This is down by 4.8 percent when compared to the same time period of 2018, which achieved net revenues of $666 million.
Contributing to net revenues was a 3 percent, or $22 million impact from organic growth. It also reflects a positive $11 million impact from the inclusion of revenues from the acquisitions of Cinnober and Quandl. However, this was offset by a $50 million loss from the divestiture of its Public Relations Solutions and Digital Media Services businesses, as well as a $15 million expense due to unfavorable foreign Exchange (Forex) rates.
GAAP (Generally Accepted Accounting Principles) operating expenses for the quarter was $359 million. This is lower than the first quarter of 2018 by $34 million or 8.65 percent, which had operating expenses of $393 million.
Fixed Income and Commodities Revenue Falls in Q1 of 2019
Following a similar trend, fixed income and commodities trading and clearing revenues also fell on a year-on-year basis. Specifically, net revenues for the segment was $19 million in Q1 of 2019, which is lower by 4 million year-on-year.
The decline was largely due to a drop in revenues related to US fixed income, as well as an unfavorable impact from changes in FX rates, which cost the company $2 million. Overall, fixed income and commodities trading and clearing revenues contribute 3 percent to total revenues.
Commenting on the results, Adena Friedman, President and CEO of Nasdaq said: “I am pleased that we delivered solid revenue growth in the Market Technology and Information Services segments during the first quarter of 2019, even as capital market conditions presented certain headwinds in the form of lower industry trading and IPO volumes.”
“At the same time, we are leveraging our leadership role in the U.S. equities markets to propose structural improvements to modernize the marketplaces to benefit both issuers and investors, and we look forward to constructive dialogue with critical stakeholders in the periods ahead.”
Following on from a solid final quarter of last year, Nasdaq has released its financial results for the first quarter of this year, revealing a year-on-year drop of $32 million in net revenues.
For the first quarter of 2019, net revenues for the US-based exchange operator came in at $634 million. This is down by 4.8 percent when compared to the same time period of 2018, which achieved net revenues of $666 million.
Contributing to net revenues was a 3 percent, or $22 million impact from organic growth. It also reflects a positive $11 million impact from the inclusion of revenues from the acquisitions of Cinnober and Quandl. However, this was offset by a $50 million loss from the divestiture of its Public Relations Solutions and Digital Media Services businesses, as well as a $15 million expense due to unfavorable foreign Exchange (Forex) rates.
GAAP (Generally Accepted Accounting Principles) operating expenses for the quarter was $359 million. This is lower than the first quarter of 2018 by $34 million or 8.65 percent, which had operating expenses of $393 million.
Fixed Income and Commodities Revenue Falls in Q1 of 2019
Following a similar trend, fixed income and commodities trading and clearing revenues also fell on a year-on-year basis. Specifically, net revenues for the segment was $19 million in Q1 of 2019, which is lower by 4 million year-on-year.
The decline was largely due to a drop in revenues related to US fixed income, as well as an unfavorable impact from changes in FX rates, which cost the company $2 million. Overall, fixed income and commodities trading and clearing revenues contribute 3 percent to total revenues.
Commenting on the results, Adena Friedman, President and CEO of Nasdaq said: “I am pleased that we delivered solid revenue growth in the Market Technology and Information Services segments during the first quarter of 2019, even as capital market conditions presented certain headwinds in the form of lower industry trading and IPO volumes.”
“At the same time, we are leveraging our leadership role in the U.S. equities markets to propose structural improvements to modernize the marketplaces to benefit both issuers and investors, and we look forward to constructive dialogue with critical stakeholders in the periods ahead.”
TP ICAP Q1 Revenue Dips 3%, April Rebound Boosts Outlook
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa