NDAQ Profits Drop, Exceed Expectations
The fourth-quarter earnings at Nasdaq OMX Group Inc (NASDAQ: NDAQ) fell 28% on one-time items and a decline in revenues. But the results edged up the analysts' forecasts.
The New York-based company reported profits of $43 million, or $0.20 a share, down from $60 million, or $0.28, a year earlier. Excluding one-time impairments and gains from both periods, earnings per share fell to $0.46 from $0.52. NDAQ’s net exchange revenues also dipped by 8.4% to $369 million, with its market-services segment seeing a 17% drop in revenues. Analysts were expecting earnings of $0.45 on $365 million in revenues.
The tech-focused market operator’s market share has stabilized now, after months of facing losses at the hands of smaller competitors. NDAQ is now focusing on widening its revenue stream and has bought Sweden’s OMX AB and the Philadelphia Stock Exchange for $5.05 billion in 2008.
NDAQ’s shares have slipped by 2.39% to $18.33.
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