Nasdaq profit beats estimates on IPO rush, investment products demand


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Wed, 2022-01-26 15:13

Nasdaq Inc. on Wednesday reported a nearly 16 percent jump in fourth-quarter profit that topped Wall Street estimates, buoyed by the frenetic pace of US initial public offerings and strong demand for its investment-related products.

Technology, health care and financial technology companies led the IPO rush during the quarter, that included the stellar debut of Rivian Automotive Inc. on the exchange that valued the electric vehicle maker at over $100 billion.

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