New Nasdaq CEO Adena Friedman Takes an Arguably Good, More Insular View of the Business
Under new CEO Adena Friedman, Nasdaq is throwing in the towel on some previous acquisitions and seems to be focusing a bit more internally. On a pro forma basis, the company reported net income of $161 million, or $0.95 per diluted earnings per share, compared with $150 million a year ago. On a GAAP-reported basis, the company had a loss of $224 million, primarily from a $578 million, noncash impairment of its acquired fixed-income platform’s trade name, eSpeed. Nasdaq also said that its closing...Nasdaq is a holding company. Nasdaq is a holding company. Through its subsidiaries, the company manages, operates and provides its products and services in business segments: Market Services, which includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing and trade management services businesses; Corporate Services, which includes listing services and corporate solutions businesses; Information Services, which includes market data, index, and investment data and analytics; and Market Technology, which provides and delivers solutions across the trade lifecycle via the Nasdaq Financial Framework.
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