- 2017 net revenues1 were $2,428 million, an increase of 7% compared to 2016. Subscription and recurring revenues2 increased 7% in 2017 compared to the prior year, and represented 76% of total net revenues.
- 2017 GAAP diluted EPS was $4.33, compared to $0.64 in 2016, while 2017 non-GAAP diluted EPS3 was $4.06, a 10% increase compared to the prior year.
- Fourth quarter 2017 net revenues were $635 million, an increase of 6% compared to the fourth quarter of 2016. Subscription and recurring revenues increased 8% in the fourth quarter compared to prior year period.
- Fourth quarter 2017 GAAP diluted EPS was $1.45 compared to a loss of $1.35 in the fourth quarter of 2016, while non-GAAP diluted EPS was $1.05, the latter an increase of 11% from the fourth quarter of 2016.
- During 2017, the company returned $446 million to shareholders, including $243 million in dividends and $203 million in share repurchases, representing 61% of our GAAP net income and 65% of our non-GAAP net income in the period.
- The company achieved several milestones as it executes a strategic pivot to maximize opportunities as a technology and analytics partner, including closing the acquisition of eVestment on October 23, 2017, and announcing an agreement for the sale of the Public Relations Solutions and Digital Media Services businesses on January 29, 2018.
2017 net revenues were $2,428 million, up $151 million, or 7%, from $2,277 million in the prior year period. The full year increase in net revenues included a $52 million increase due to organic growth, a $9 million favorable impact from changes in foreign exchange rates and a $90 million impact from acquisitions. Fourth quarter 2017 net revenues were $635 million, up $36 million, or 6%, from $599 million in the prior year period. The fourth quarter increase in net revenues included a $17 million, or 3%, increase due to organic growth, a $12 million favorable impact from changes in foreign exchange rates and a $7 million impact from acquisitions.
“We achieved strong results in the fourth quarter and full year of 2017 through an intense focus on our clients and strong execution against our business priorities," said Adena Friedman, President and CEO, Nasdaq. "The acquisition of eVestment advanced our relationships with investment managers, the timely integration of ISE delivered benefits to our trading clients and our shareholders, our next generation markets platform opened new opportunities with our technology clients, and our advocacy has driven a deeper partnership with our corporate clients."
Mrs. Friedman continued, "We are building upon the success of 2017 by establishing three new execution priorities for 2018, including progressing our pivot to align with and maximize our opportunities as an innovative analytics and technology partner, developing and deploying our ‘markets economy’ technology strategy, and continuing to advance our competitive position in our core businesses. All of us at Nasdaq are aligned around these priorities and look forward to another productive year."
GAAP operating expenses were $392 million in the fourth quarter of 2017, an increase of $6 million from $386 million in the fourth quarter of 2016. The increase primarily reflects higher merger and strategic initiatives expense and depreciation and amortization expense, partially offset by lower regulatory expense.
Non-GAAP operating expenses were $341 million in the fourth quarter of 2017, an increase of $17 million, or 5%, compared to the fourth quarter of 2016. This reflects a $16 million increase from acquisitions and a $7 million unfavorable impact from changes in foreign exchange rates, partially offset by a $6 million organic expense decrease.
“In 2017, we successfully executed against our integration, efficiency and capital return plans, exceeding our initial $60 million synergy target related to the 2016 acquisitions, increasing our operating margin, and returning 65% of non-GAAP net income to shareholders through dividends and share repurchases," said Mr. Michael Ptasznik, Executive Vice President and Chief Financial Officer, Nasdaq.
http://mrem.bernama.com/viewsm.php?idm=31104
No comments:
Post a Comment