Nasdaq Reports Strong Financials for Q1 2018, Eyes Cryptocurrency Space

Nasdaq, Inc. (Nasdaq:NDAQ), one of the largest market operators in the US, has reported its Q1 2018 financial results for the period ending March 31, 2018. The latest figures showed a mild increase in revenues, albeit scoring a new all-time high in the first quarter, according to a group filing.

Looking at its overall business in Q1 2017, Nasdaq reported an all-time high in its total revenues of $666.0 million, which was good for a 9 percent quarter-over-quarter growth compared with ‎$611.0 million in Q4 2017. By extension, the group bested its 2017 counterpart, recording a rise of 15 percent year-over-year from ‎$606.0 million in Q1 2017.

In terms of its other quarterly highlights, Nasdaq’s Q1 2018 GAAP diluted EPS per share came in at $1.05, relative to just $0.99 in Q1 2017, which was good for a boost of 6 percent on a year-over-year basis.

According to Adena Friedman, President and CEO of Nasdaq, in a statement on the earnings: “We achieved strong results in the first quarter of 2018 through a combination of solid organic growth in our recurring revenues, as well as by maximizing the benefits of higher industry volumes with strong market share.”

Mrs. Friedman continued, “In addition, we continue to expand our pipeline of opportunities in our ‘markets economy’ technology strategy, and build momentum around our competitive position across several core businesses.”

On Wednesday, Nasdaq announced a collaboration with cryptocurrency exchange Gemini. The deal gives the venue owned and operated by Cameron and Tyler Winklevoss access to Nasdaq’s surveillance technology to help detect manipulation and fraudulent trades.

CEO Friedman also said today that Nasdaq would consider becoming a crypto exchange once the regulation is smoothed out and the space matures.

Source: Read Full Article