12 December 2017
visit http://response.ncr.com

Nasdaq losses widen as market share continues to decline

26 February 2004  |  4631 views  |  0 Nasdaq losses widen as market share continues to decline

The Nasdaq Stock Market has reported widening fourth quarter losses as revenues continue to slide.

Total revenue in fourth quarter 2003 decreased 23.5% to $138 million from $180.3 million a year ago. The company reported net losses of $10.8 million for the quarter, including a $28.4 million bill for cost-cutting initiatives. Excluding this impact, net income was $5.9 million for the period, against $6.2 million in Q4 2002.

For the year as a whole revenues dropped 25.1% to to $589.8 million from $787.2 million in 2002. Net loss, including pre-tax overhaul charges of $97.9 million, was $45.2 million, versus net income of $65 million, for the year ending 2002.

Nasdaq's share of domestic market trading also took a knock in the final quarter, sliding to 56% against 62% in the preceding period.

Nasdaq's chief executive officer, Robert Greifeld, comments: "We are focused on two key objectives: increasing Nasdaq's share of trading in domestic equity markets; and increasing the number of companies listed on Nasdaq. To achieve this, we are enhancing the functionality of our trading systems and taking steps to achieve price leadership."

Looked at in more detail, transaction services revenue decreased 32% to $53.6 million from $78.8 million in the year-ago quarter as execution services, trade reporting and access revenue were affected by continued competitive pressure and lower market share. Similarly, market information services revenue slipped 33.5% to $32.5 million from $48.9 million. The corporate client group recorded a 2.3% decline to $42.8 million due to the lower number of listed companies. The only bright spot came from the financial product line which reported a $0.3 million rise in revenue to $7.6 million over the year-ago period.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nasdaq to conduct disaster recovery tests

Nasdaq to conduct disaster recovery tests

16 January 2004  |  4833 views  |  0 comments
Nasdaq to terminate Primex Trading agreement

Nasdaq to terminate Primex Trading agreement

05 January 2004  |  3180 views  |  0 comments
Inet to join SuperMontage

Inet to join SuperMontage

04 November 2003  |  6007 views  |  0 comments
Nasdaq hires Janet Lewis and Jeffrey Singer to drive sales

Nasdaq hires Janet Lewis and Jeffrey Singer to drive sales

29 October 2003  |  6009 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit http://info.nice.comvisit www.solutions.lexisnexis.com

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18955 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11739 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8525 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7021 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6538 views comments | 19 tweets | 11 linkedin

Featured job

Find your next job