Nasdaq Financial Woes
Traders Magazine, August 2002
Nasdaq's earnings were down by 55 percent in the last quarter compared to the same quarter of 2001. That works out to $8.8 million versus $19.6 million. About $10 million of that decline in profits came from Nasdaq's problem plagued Japanese subsidiary, which was shut. "The timing of that was just bad. It never caught on," according to a spokesman for Nasdaq. Besides the problems in the Land of the Rising Sun, Nasdaq officials said reduced earnings were the result of a bear market. "This is a very difficult economic climate for us. It is for everyone and all of us have to ride it out," the spokesman added.
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