Press release
Nasdaq Reports Second Quarter 2020 Results, Resilient Business Adapting to Deliver Continued Growth
Second quarter 2020 net revenues1 were $699 million, an increase of 12% over the second quarter of 2019. Compared to the prior year period, revenues in the
About this update from Nasdaq, Inc.
[{"type":"text","content":"Second quarter 2020 net revenues1 were $699 million, an increase of 12% over the second quarter of 2019. Compared to the prior year period, revenues in the non-trading segments2 increased 7%, primarily due to organic growth, while Market Services revenues rose 22%, driven by record trading volumes in U.S. equities and options.The GAAP operating margin was 45% in the second quarter of 2020, up from 41% in the prior year period, while the non-GAAP operating margin3 of 53% increased from 48% in the prior year period.Second quarter 2020 GAAP diluted earnings per share, or EPS, was $1.45, up 39% from $1.04 in the second quarter of 2019. Second quarter 2020 non-GAAP diluted EPS was $1.54, up 26% from $1.22 in the second quarter of 2019.After taking steps in the first quarter of 2020 to increase cash reserves and eliminate near-term debt maturities, in the second quarter Nasdaq issued a $500 million 30-year bond and repaid all commercial paper and borrowings under our revolver. As a result, the company returned to lower leverage, while improving its available liquidity. Nasdaq is working to expand our impact on society by contributing to organizations providing assistance to communities disproportionately impacted by the global health, economic, and social justice crises; increasing our support to the Nasdaq Foundation; and taking actions to foster a more diverse and inclusive corporate culture. NEW YORK, July 22, 2020 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the second quarter of 2020. \n Second quarter 2020 net revenues were $699 million, an increase of $76 million, or 12%, from $623 million in the prior year period. Net revenues reflected a $50 million positive impact from organic growth in the Market Services segment, a $25 million positive impact from organic growth in the non-trading segments and a $3 million increase from the inclusion of revenues from acquisitions, partially offset by a $2 million unfavorable impact from changes in exchange rates. “I am extremely proud of the Nasdaq team and how we are serving our clients as we continue to navigate the pandemic,\" said Adena Friedman, President and CEO, Nasdaq. \"Our foundational markets are demonstrating their resilience and the power of a distributed, electronic market model, handling record volumes through multiple periods of extre...