Nasdaq reports drop in revenues in Q3 results
25 October 2018 London
Image: Shutterstock
Nasdaq stated its net revenues stood at $600 million, down $3 million from the same period a year earlier in its recently released Q3 results.
The drop included a positive $28 million, or 5 percent, impact from organic growth, and a positive $22 million impact from the inclusion of revenues from the acquisition of eVestment.
These were offset by a $46 million negative impact from the divestiture of the public relations solutions and digital media services businesses and a $7 million unfavourable impact from changes in foreign exchange rates.
Said Adena Friedman, president and CEO of Nasdaq, commented: 鈥淨3 revenue exhibited solid organic revenue growth across our franchise, in-line with our longer-term outlook.鈥�
He added: 鈥淭he continued strong growth in market technology, index and analytics, which are areas where we鈥檝e shifted more of our resources, enhances our confidence in our new strategic direction.鈥�
"As we look forward, we remain focused in the near term on the early implementation of our strategic realignment to maximise opportunities as a technology and analytics provider, while ensuring we continue to achieve the highest possible effectiveness in our foundational marketplace businesses."
The drop included a positive $28 million, or 5 percent, impact from organic growth, and a positive $22 million impact from the inclusion of revenues from the acquisition of eVestment.
These were offset by a $46 million negative impact from the divestiture of the public relations solutions and digital media services businesses and a $7 million unfavourable impact from changes in foreign exchange rates.
Said Adena Friedman, president and CEO of Nasdaq, commented: 鈥淨3 revenue exhibited solid organic revenue growth across our franchise, in-line with our longer-term outlook.鈥�
He added: 鈥淭he continued strong growth in market technology, index and analytics, which are areas where we鈥檝e shifted more of our resources, enhances our confidence in our new strategic direction.鈥�
"As we look forward, we remain focused in the near term on the early implementation of our strategic realignment to maximise opportunities as a technology and analytics provider, while ensuring we continue to achieve the highest possible effectiveness in our foundational marketplace businesses."
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