Summary
Nasdaq, Inc. (NDAQ) reported robust performance for the fiscal year ended December 31, 2024, marked by significant revenue growth driven by the integration of its acquired Adenza business and strong performance across its key segments. Total revenues increased by 22.0% to $7,400 million, with revenues less transaction-based expenses growing by 19.4% to $4,649 million. The Financial Technology segment was a key driver of this growth, delivering over 10% ARR growth and a substantial 47.5% increase in segment revenue, largely attributed to the full-year impact of Adenza's regulatory technology and capital markets technology solutions. The company continued to solidify its market leadership in listings, boasting the top U.S. exchange for IPOs by number and proceeds raised, and saw strong performance in its Index business, with exchange-traded product assets under management reaching $647 billion. While facing some headwinds in the U.S. Tape plans and other revenue streams, Nasdaq's strategic focus on technology, particularly in areas like AI and cloud infrastructure, positions it well for future innovation and sustained growth within the evolving global financial system.
Financial Highlights
55 data points| Revenue | $7.40B |
| Cost of Revenue | $2.75B |
| Gross Profit | $4.65B |
| Operating Expenses | $2.85B |
| Operating Income | $1.80B |
| Net Income | $1.12B |
| EPS (Basic) | $1.94 |
| EPS (Diluted) | $1.93 |
| Shares Outstanding (Basic) | 575.43M |
| Shares Outstanding (Diluted) | 579.19M |
Key Highlights
- 1Total revenues increased by 22.0% to $7,400 million, and revenues less transaction-based expenses grew by 19.4% to $4,649 million in 2024.
- 2The Financial Technology segment demonstrated substantial growth, with revenues up 47.5% to $1,621 million, driven by the full-year integration of Adenza's AxiomSL and Calypso solutions.
- 3Nasdaq maintained its leadership in U.S. IPOs, being the top exchange by number and proceeds raised for the sixth consecutive year, with an 82% win rate for eligible IPOs.
- 4The Index business saw significant growth, with ETP AUM reaching a record $647 billion, supported by $80 billion in net inflows during the year.
- 5Market Services segment achieved record net revenue, with strong performance in U.S. Equity Derivative Trading and Cash Equity Trading, despite a decrease in U.S. Tape plans revenue.
- 6The company is strategically investing in technology, including AI and cloud infrastructure, to enhance its offerings and maintain a competitive edge.
- 7Nasdaq reported non-GAAP diluted earnings per share of $2.82, demonstrating strong operational profitability.