Net income for the third quarter of 2019, however, didn’t hold up as well.
Nasdaq, Inc. has published its financial results for the third quarter of 2019 this Wednesday, revealing a positive uptick in net revenues but a drop in net income on an annual comparison.
During the third quarter, net revenues were $632 million. This represents an increase of $32 million or 5.3 percent from the $600 million reported in the prior-year period.
Net revenues are also higher by $9 million on a quarter-on-quarter comparison, as the second quarter of 2019 had net revenues of $623 million. Contributing to Q3's figure was a 6 percent or a positive $37 million impact from organic growth.
Furthermore, net revenues were also up thanks to a $12 million positive impact from the inclusion of revenues from the acquisitions of Cinnober and Quandl. However, this was partially offset by a $10 million negative impact from a divestiture and a $7 million unfavorable impact from changes in foreign exchange (Forex) rates.
Net income for Q3 of 2019, however, didn’t hold up as well, coming in at $150 million on a GAAP basis, or diluted earnings per share of $0.90. This is lower than the $163 million net income posted in the third quarter of 2018 by around 8.0 percent.
Taking a look at Nasdaq’s market services performance, which contributes 36 percent of total net revenues, the exchange operator noted a figure of $226 million for the period. This is up by $4 million or 2 percent year-on-year.
Fixed income net revenues fall on Nasdaq
The Fixed Income and Commodities Trading and Clearing segment, however, experienced a drop in the third quarter, falling by $3 million down to $16 million. This was primarily driven by lower volumes in US fixed income and European commodities products.
The Equity Derivative Trading and Clearing net revenues, on the other hand, were $75 million in Q3 of 2019. This translated to a growth of $7 million year-on-year, thanks to higher US trading volumes and revenue capture.
Commenting on the results, Adena Friedman, President and CEO, Nasdaq said: “Our strong third quarter 2019 results reflect significant contributions from across our franchise. I am especially pleased that we have been able to continue delivering strong growth in our expanded technology and Analytics offerings, while simultaneously benefiting from our rising equities market share and a busy trading and IPO environment."
“At the same time, we are progressing on significant initiatives, such as the deployment of our next-generation market technology solutions and enhancing our offerings to the private markets, which will enable us to do more for our clients in future periods.”
Nasdaq, Inc. has published its financial results for the third quarter of 2019 this Wednesday, revealing a positive uptick in net revenues but a drop in net income on an annual comparison.
During the third quarter, net revenues were $632 million. This represents an increase of $32 million or 5.3 percent from the $600 million reported in the prior-year period.
Net revenues are also higher by $9 million on a quarter-on-quarter comparison, as the second quarter of 2019 had net revenues of $623 million. Contributing to Q3's figure was a 6 percent or a positive $37 million impact from organic growth.
Furthermore, net revenues were also up thanks to a $12 million positive impact from the inclusion of revenues from the acquisitions of Cinnober and Quandl. However, this was partially offset by a $10 million negative impact from a divestiture and a $7 million unfavorable impact from changes in foreign exchange (Forex) rates.
Net income for Q3 of 2019, however, didn’t hold up as well, coming in at $150 million on a GAAP basis, or diluted earnings per share of $0.90. This is lower than the $163 million net income posted in the third quarter of 2018 by around 8.0 percent.
Taking a look at Nasdaq’s market services performance, which contributes 36 percent of total net revenues, the exchange operator noted a figure of $226 million for the period. This is up by $4 million or 2 percent year-on-year.
Fixed income net revenues fall on Nasdaq
The Fixed Income and Commodities Trading and Clearing segment, however, experienced a drop in the third quarter, falling by $3 million down to $16 million. This was primarily driven by lower volumes in US fixed income and European commodities products.
The Equity Derivative Trading and Clearing net revenues, on the other hand, were $75 million in Q3 of 2019. This translated to a growth of $7 million year-on-year, thanks to higher US trading volumes and revenue capture.
Commenting on the results, Adena Friedman, President and CEO, Nasdaq said: “Our strong third quarter 2019 results reflect significant contributions from across our franchise. I am especially pleased that we have been able to continue delivering strong growth in our expanded technology and Analytics offerings, while simultaneously benefiting from our rising equities market share and a busy trading and IPO environment."
“At the same time, we are progressing on significant initiatives, such as the deployment of our next-generation market technology solutions and enhancing our offerings to the private markets, which will enable us to do more for our clients in future periods.”
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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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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
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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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
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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
Register now to secure your spot: https://bit.ly/3JbUpCK
#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
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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