Summary
Nasdaq, Inc. (NDAQ) reported solid financial results for the third quarter and first nine months of fiscal year 2025, showcasing revenue growth across key segments and improved profitability. Total revenues increased by 3.0% to $1.96 billion for the quarter and 14.3% to $6.14 billion for the nine-month period, demonstrating resilience and growth in its diverse business lines. The company saw strong performance in its Capital Access Platforms and Financial Technology segments, with revenues up 9.1% and 23.3% respectively for the quarter. This growth was driven by robust activity in Data & Listing Services, Index products with record inflows, and accelerated ARR growth in Financial Technology. Market Services, while facing some headwinds in specific areas, delivered record U.S. equity derivatives revenue and volumes, reflecting the company's diversified revenue streams. Profitability also improved significantly, with net income attributable to Nasdaq soaring by 38.4% to $423 million for the quarter and 66.6% to $1.27 billion for the nine-month period, leading to a substantial increase in diluted earnings per share. The company also maintained a strong balance sheet and continued to return value to shareholders through dividends and share repurchases.
Financial Highlights
54 data points| Revenue | $1.96B |
| Cost of Revenue | $643.00M |
| Gross Profit | $1.31B |
| Operating Expenses | $729.00M |
| Operating Income | $586.00M |
| Net Income | $423.00M |
| EPS (Basic) | $0.74 |
| EPS (Diluted) | $0.73 |
| Shares Outstanding (Basic) | 573.29M |
| Shares Outstanding (Diluted) | 578.98M |
Key Highlights
- 1Total revenues increased by 3.0% to $1.96 billion for Q3 2025 and by 14.3% to $6.14 billion for the first nine months of 2025.
- 2Capital Access Platforms segment revenue grew 9.1% to $546 million in Q3 2025, driven by Data & Listing Services and Index products, which saw record net inflows.
- 3Financial Technology segment revenue increased by 23.3% to $457 million in Q3 2025, supported by strong ARR growth and new client acquisition.
- 4Market Services delivered record U.S. equity derivatives revenue and volumes, despite a 7.4% decrease in segment revenue.
- 5Net income attributable to Nasdaq surged by 38.4% to $423 million for Q3 2025 and by 66.6% to $1.27 billion for the nine-month period.
- 6Diluted earnings per share increased significantly, rising 38.4% to $0.73 in Q3 2025 and 66.6% to $2.19 for the nine-month period.
- 7The company declared and paid cash dividends totaling $0.78 per share for the first nine months of 2025, a 11.4% increase year-over-year.