UPDATE 2-Nasdaq tops profit views amid clamor for tech stocks


2020/07/22 23:40  Reuters

(Adds CEO quote from conference call, details on financial results)

By John McCrank and C Nivedita

July 22 (Reuters) - Nasdaq Inc NDAQ.O on Wednesday reported second-quarter profits that topped expectations as the company&aposs technology-heavy indexes attracted record inflows and exchange volumes surged with more people trading from home while under COVID-19 lockdowns.

Work-from-home mandates due to the coronavirus pandemic have led to a greater reliance on technology companies, many of the biggest of which are listed on Nasdaq, sending the exchange operator&aposs flagship Nasdaq 100 index .NDX up around 19% so far this year. That compares to a rise of about 0.8% for the S&P 500 .SPX .

"Our market, as well as the indices that we build around our market trends, are playing into the next generation of our economy," Nasdaq Chief Executive Officer Adena Friedman said on a call with analysts.

Assets under management linked to Nasdaq indexes surged 34% from a year earlier to $272 billion, as people sought broad exposure to sectors like technology and pharmaceuticals, boosting the New York-based company&aposs licensing fee revenues.

That helped Nasdaq beat analysts&apos expectations for second-quarter earnings per share, not including onetime items like acquisition costs, by 9 cents, at $1.54 per share, according to IBES data from Refinitiv.

Nasdaq also benefited from robust trading volumes, spurred in part by a shift by retail brokerages to no-fee trading, which along with pandemic lockdowns has given rise to a new generation of day traders.

Robinhood, the retail brokerage credited with ushering in the commission-free trend, became a Nasdaq client during the quarter, using the company&aposs trade surveillance technology to monitor its markets.

On the listings front, Nasdaq saw a spate of market debuts, including Royalty Pharma PLC RPRX.O , Warner Music Group WMG.O and ZoomInfo Technologies ZI.O .

Nasdaq&aposs net income for the quarter rose to $241 million, or $1.45 per share, from $174 million, or $1.04 per share, a year earlier.

Revenue rose 12% to $699 million.




冠状病毒大流行导致的在家工作授权导致对科技公司的更大依赖,其中许多最大的公司在纳斯达克(Nasdaq)上市,推动交易所运营商&aposs旗舰纳斯达克100指数(Nasdaq 100 Index)今年迄今上涨约19%。相比之下,标准普尔500指数.SPX的涨幅约为0.8%。

纳斯达克首席执行官阿迪娜·弗里德曼(Adena Friedman)在与分析师的电话会议上表示:“我们的市场,以及我们围绕市场趋势建立的指数,正在为我们的下一代经济发挥作用。”





在上市方面,纳斯达克见证了一系列的上市交易,包括Royalty Pharma PLC RPRX.O,Warner Music Group WMG.O和ZoomInfo Technologies ZI.O。




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