Is Nasdaq a stock exchange or Ads company?

Most exchanges don't make any money from trading itself, the tech is demanding the margins are thin, it's very competitive etc. They make more money from selling data (market data). Outside of that, anything that pads the bottom line is good news.

> Most exchanges don't make any money from trading itself

Can you give a reference that doesn't involve reading some exchange's financial statements? This was not my impression at all.

You probably went to nasdaq.com which is NASDAQ's site for retail and web-search landing. They have information there and monetize it with advertising like many other sites do. As others have noted, they are a broad business and it is a revenue stream.

You can go to https://nasdaqtrader.com if you want to read the exchange's specifications, symbol lookup, system status, etc.

Nasdaq is more than just an exchange.

https://en.wikipedia.org/wiki/Nasdaq,_Inc.

Your link is broken due to the period not being included in the URL.

https://en.wikipedia.org/wiki/Nasdaq,_Inc%2E