Nasdaq Profit Falls Most Since 2010 Amid Elusive IPO Revival
- Adjusted earnings fell 8.7% as jittery markets deter listings
- Number of firms listing on Nasdaq dropped 33% in first quarter
The Nasdaq MarketSite in New York.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Nasdaq Inc.’s profit fell the most in 14 years as firms continue to wait for the economy to stabilize before going public.
Earnings fell 8.7% to 63 cents a share, the company said in a statement, below an expected 65 cents — that makes it the worst contraction since the first quarter of 2010. Revenue from Nasdaq’s data and listing segment, which houses its trading exchanges, was largely flat from a year ago and also fell short of projections.