Photo: Business Insider
Perhaps this is an indicator of how Wall Street is really doing. Via Zerohedge, the New York Post’s Keith J. Kelley reports that Bloomberg LP has grown its Bloomberg Terminal sales by only ~1,000 units in the first nine months of this year.
In 2011, Bloomberg sold 13,672 terminal subscriptions, which was short of the sales goal of 15,000, the report said.
A Bloomberg Terminal is basically a computer that Wall Streeters use to obtain real-time market data, news and stock quotes among many other cool functions.
There are about 315,000 Bloomberg Terminals installed worldwide. A subscription costs about $20,000 per year, the report said.
The other problem is 50 per cent of Bloomberg employees’ bonuses depend on terminal sales and non-terminal revenue growth.