Discover Yahoo! With Your Friends

Explore news, videos, and much more based on what your friends are reading and watching. Publish your own activity and retain full control.

To get started, first

YOUR FRIENDS' ACTIVITY

    Nasdaq 4Q profit drops 40 pct on higher expenses

    Associated Press – Wed, Feb 1, 2012

    NEW YORK (AP) — The Nasdaq OMX Group Inc. on Wednesday posted a 40 percent drop in fourth-quarter net income due to higher operating expenses and other costs. But results excluding the cost of debt refinancing and other one-time items just topped Wall Street expectations.

    For the three months ended Dec. 31, the operator of the Nasdaq Stock Market and multiple foreign exchanges said its net income fell to $82 million, or 45 cents per share, from $137 million, or 69 cents per share, in the year-earlier period.

    Due to company buybacks, the number of outstanding shares dropped 10 percent during the year, which has the effect of boosting per-share results.

    Adjusted for $44 million in one-time items, including debt refinancing, merger costs and the value lost in a certain security investment, per-share results for the quarter came to 63 cents per share.

    Revenue rose 6 percent to $422 million, from $400 million in the 2010 fourth quarter.

    Analysts, on average, were expecting profit of 62 cents per share, on revenue of $415.3 million, according to data provided by FactSet.

    Nasdaq, which is based in New York, said that costs for transaction rebates and brokerage, clearance and exchange fees rose 9 percent to $417 million, while operating expenses jumped 16 percent to $261 million.

    The company said 56 new companies listed on the Nasdaq during the quarter, including 16 initial public offerings, including daily deal site Groupon Inc and online gaming company Zynga Inc. That was down from 63 new listings and 37 IPOs in the 2010 fourth quarter.

    Nasdaq has been expanding its businesses as trading revenues waver. The company said net U.S. cash equity trading revenue was flat with the 2010 quarter but fell compared with the third quarter. European cash equity trading revenues fell 4 percent from the prior year.

    Meanwhile, the company bought a company that provides economic news directly to customers, providing government data and other indicators that can be incorporated into algorithmic trading systems; launched a new risk management platform for the Nordic clearing house; bought a software provider used for investor relations and public relations and signed a deal to provide market technology and other services to Bolsa Electronica de Chile.

    For the full year, net income was $387 million, or $2.15 per share, compared with $395 million, or $1.91 per share for all of 2010. Revenue rose 11 percent to $1.69 billion from $1.52 billion.

    Nasdaq shares gained 24 cents, or 1 percent to $25 in premarket trading.

     

    There are no comments yet

    [ [ [['Connery is an experienced stuntman', 2]], 'http://yhoo.it/KeQd0p', '[Slideshow: See photos taken on the way down]', ' ', '630', ' ', ' ', ], [ [['Connery is an experienced stuntman', 7]], ' http://yhoo.it/KpUoHO', '[Slideshow: Death-defying daredevils]', ' ', '630', ' ', ' ', ], [ [['know that we have confidence in', 3]], 'http://yhoo.it/LqYjAX ', '[Related: The Secret Service guide to Cartagena]', ' ', '630', ' ', ' ', ], [ [['We picked up this other dog and', 5]], 'http://yhoo.it/JUSxvi', '[Related: 8 common dog fears, how to calm them]', ' ', '630', ' ', ' ', ], [ [['accused of running a fake hepatitis B', 5]], 'http://bit.ly/JnoJYN', '[Related: Did WH share raid details with filmmakers?]', ' ', '630', ' ', ' ', ], [ [['accused of running a fake hepatitis B', 3]], 'http://bit.ly/KoKiqJ', '[Factbox: AQAP, al-Qaeda in Yemen]', ' ', '630', ' ', ' ', ], [ [['have my contacts on or glasses', 3]], 'http://abcn.ws/KTE5AZ', '[Related: Should the murder charge be dropped?]', ' ', '630', ' ', ' ', ], [ [['have made this nation great as Sarah Palin', 5]], 'http://yhoo.it/JD7nlD', '[Related: Bristol Palin reality show debuts June 19]', ' ', '630', ' ', ' ', ], [ [['have made this nation great as Sarah Palin', 1]], 'http://bit.ly/JRPFRO', '[Related: McCain adviser who vetted Palin weighs in on VP race]', ' ', '630', ' ', ' ', ], [ [['A JetBlue flight from New York to Las Vegas', 3]], 'http://yhoo.it/GV9zpj', '[Related: View photos of the JetBlue plane in Amarillo]', ' ', '630', ' ', ' ', ], [ [['the 28-year-old neighborhood watchman who shot and killed', 15]], 'http://news.yahoo.com/photos/white-house-stays-out-of-teen-s-killing-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120411/martinzimmermen.jpg', '630', ' ', 'AP', ], [ [['Titanic', 7]], 'http://news.yahoo.com/titanic-anniversary/', ' ', 'http://l.yimg.com/a/p/us/news/editorial/b/4e/b4e5ad9f00b5dfeeec2226d53e173569.jpeg', '550', ' ', ' ', ], [ [['He was in shock and still strapped to his seat', 6]], 'http://news.yahoo.com/photos/navy-jet-crashes-in-virginia-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120406/jet_ap.jpg', '630', ' ', 'AP', ], [ [['xxxxxxxxxxxx', 11]], 'http://news.yahoo.com/photos/russian-grannies-win-bid-to-sing-at-eurovision-1331223625-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/1/56/156d92f2760dcd3e75bcd649a8b85fcf.jpeg', '500', ' ', 'AP', ] ]
    [ [ [['did not go as far his colleague', 8]], '29438204', '0' ], [ [[' the 28-year-old neighborhood watchman who shot and killed', 4]], '28924649', '0' ], [ [['because I know God protects me', 14], ['Brian Snow was at a nearby credit union', 5]], '28811216', '0' ], [ [['The state news agency RIA-Novosti quoted Rosaviatsiya', 6]], '28805461', '0' ], [ [['measure all but certain to fail in the face of bipartisan', 4]], '28771014', '0' ], [ [['matter what you do in this case', 5]], '28759848', '0' ], [ [['presume laws are constitutional', 7]], '28747556', '0' ], [ [['has destroyed 15 to 25 houses', 7]], '28744868', '0' ], [ [['short answer is yes', 7]], '28746030', '0' ], [ [['opportunity to tell the real story', 7]], '28731764', '0' ], [ [['entirely respectable way to put off the searing constitutional controversy', 7]], '28723797', '0' ], [ [['point of my campaign is that big ideas matter', 9]], '28712293', '0' ], [ [['As the standoff dragged into a second day', 7]], '28687424', '0' ], [ [['French police stepped up the search', 17]], '28667224', '0' ], [ [['Seeking to elevate his candidacy back to a general', 8]], '28660934', '0' ], [ [['The tragic story of Trayvon Martin', 4]], '28647343', '0' ], [ [['Karzai will get a chance soon to express', 8]], '28630306', '0' ], [ [['powerful storms stretching', 8]], '28493546', '0' ], [ [['basic norm that death is private', 6]], '28413590', '0' ], [ [['songwriter also saw a surge in sales for her debut album', 6]], '28413590', '1', 'Watch music videos from Whitney Houston ', 'on Yahoo! Music', 'http://music.yahoo.com' ], [ [['keyword', 99999999999999999999999]], 'videoID', '1', 'overwrite-pre-description', 'overwrite-link-string', 'overwrite-link-url' ] ]

    News For You

    Loading...