Nasdaq (NDAQ) Q2 profit plunges 10%, but revenue jumps 6%

July 20, 2022 10:07 AM PDT | By Mridul Gogoi

Nasdaq (NDAQ) Q2 profit plunges 10%, but revenue jumps 6% — Image source: © Shiningcolors | Megapixl.com

Global IPO market is sluggish in 2022

According to data released by EY, the global IPO market saw a downturn this year. In the second quarter, initial public offerings tanked 65% from last year, raising US$40.6 billion, the EY data revealed. Even the US IPO market experienced a shrink in volumes to a fraction of 2021.

In the second quarter, the Nasdaq stock market hosted 38 IPOs versus the 135 stock market flotations in the previous year.

Driven by 10% growth in its solutions segment, Nasdaq reported a 6% upsurge in its net revenue to US$893 million. Some of the products in this segment include financial crime tech and ESG (environmental, social, and governance) advisories.

Nasdaq (NDAQ) Q2 profit plunges 10%, but revenue jumps 6% Source: ©Kalkine Media®; © Rajesh Grover via Canva.com

In June, Nasdaq also announced that it was planning to acquire ESG software provider Metrio for an undisclosed amount.

Nasdaq was also among the group of exchanges that won a ruling against the Securities and Exchange Commission (SEC). A US appeals court nixed the regulator’s decree that could have permitted some financial firms to dictate the price and dissemination of essential stock market data.

Bottom line:

US multinational financial services corporation Nasdaq Inc. owns and runs three stock exchanges in the United States. They are the tech-heavy Nasdaq stock exchange, the Philadelphia Stock Exchange, and the Boston Stock Exchange.

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