The Strategist

NASDAQ quarterly profit rises amid pandemic

04/23/2020 - 03:12

The American company NASDAQ, which manages a stock exchange of the same name, as well as several European stock exchanges, including Stockholm and Copenhagen, published its first quarter results on Wednesday - its net profit grew by 23%, to $ 251 million.

bfishadow on Flickr
bfishadow on Flickr
The growth is associated with the activation of exchange trading due to the coronavirus pandemic as the company receives the main income from commissions from bidders, listing fees, etc. NASDAQ revenue increased by 11%, to $ 701 million.

The revenue of the market services division, which, in fact, serves trading on the exchange, went up by 21% "due to historical trading volumes, especially in the second half of the first quarter." “I am very proud of how hard the NASDAQ team worked in such unusual conditions to ensure uninterrupted access of issuers and investors to capital, as well as to support our technology clients and their saving measures,” said Adena Friedman, NASDAQ CEO.