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Dec 31, 2019

Nasdaq Q4 2019 Earnings Report

Nasdaq reported Q4 2019 results with net revenues of $646 million and non-GAAP EPS of $1.29. The company saw strong revenue growth in non-trading segments, offset by a decrease in Market Services revenues. Nasdaq provided 2020 non-GAAP expense and tax guidance.

Key Takeaways

Nasdaq's Q4 2019 net revenues were $646 million, a $1 million increase from the prior year period. GAAP diluted earnings per share was $1.21, up from a loss of $0.27 in Q4 2018, and non-GAAP diluted earnings per share was $1.29, up from $1.24 in Q4 2018. Revenues in the non-trading segments increased 9%, while Market Services revenues decreased 10%.

Net revenues for Q4 2019 were $646 million, up $1 million from Q4 2018.

GAAP diluted earnings per share was $1.21, compared to a loss of $0.27 in Q4 2018.

Non-GAAP diluted earnings per share was $1.29, up from $1.24 in Q4 2018.

Revenues in the non-trading segments increased 9% versus the prior year period.

Total Revenue
$646M
Previous year: $645M
+0.2%
EPS
$0.43
Previous year: $0.42
+2.4%
IPOs Nasdaq Stock Market
50
Previous year: 41
+22.0%
IPOs Nasdaq Nordic Baltic
12
Previous year: 15
-20.0%
New Listings Nasdaq Stock Market
107
Previous year: 67
+59.7%
Gross Profit
$457M
Previous year: $466M
-1.9%
Cash and Equivalents
$332M
Previous year: $545M
-39.1%
Free Cash Flow
$300M
Previous year: $321M
-6.5%
Total Assets
$13.9B
Previous year: $15.7B
-11.3%

Nasdaq

Nasdaq

Nasdaq Revenue by Segment

Forward Guidance

Nasdaq initiated its 2020 non-GAAP operating expense guidance in the range of $1,310 to $1,360 million. Nasdaq expects its 2020 non-GAAP tax rate to be in the range of 25.5% to 27.5%.

Revenue & Expenses

Visualization of income flow from segment revenue to net income