Nasdaq Inc.: Beat — EPS $1.04, Revenue $1.48B
Earnings BeatQ3 2026 · Pre-market
Did Nasdaq Inc. (NDAQ) beat earnings today?
Yes, Nasdaq Inc. (NDAQ) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+1.96% surprise
$1.04Actual
Expected: $1.02
vs. year ago +18.0%
Total Revenue+1.44% surprise
$1.48BActual
Expected: $1.46B
vs. year ago +13.0%
Released Oct 22 · 7:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $1.48B | $1.31B | +13.0 |
| Revenue detail — reported lines | |||
| └─Solutions revenue | $1.17B | $1.00B | +17.0 |
| └─Capital Access Platforms | $641.00M | $534.00M | +20.0 |
| └─Data and Listing Services | $224.00M | $204.00M | +10.0 |
| └─Index | $286.00M | $206.00M | +39.0 |
| └─Workflow and Insights | $131.00M | $124.00M | +6.0 |
| └─Financial Technology | $529.00M | $457.00M | +16.0 |
| └─Financial Crime Management Technology | $103.00M | $84.00M | +23.0 |
| └─Regulatory Technology | $123.00M | $109.00M | +13.0 |
| └─Capital Markets Technology | $303.00M | $264.00M | +15.0 |
| └─Market Services | $309.00M | $303.00M | +2.0 |
| └─Other revenues | $2.00M | $21.00M | -91.0 |
| Net income | $539.00M | $423.00M | +27.4 |
| GAAP Basic EPS | $0.97 | $0.74 | +31.1 |
| GAAP Diluted EPS | $0.96 | $0.73 | +31.0 |
| Non-GAAP Diluted EPS | $1.04 | $0.88 | +18.0 |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY 2026 Outlook |
|---|---|---|
| Non-GAAP operating expenses | — | $2.550B-$2.580B |
Business Highlights
- ➤Financial Technology signed 54 new clients and completed 135 upsells.
- ➤Cloud-based solutions accounted for 85% of ACV bookings in Financial Technology.
- ➤Nasdaq Verafin launched Agentic AML Analyst and Agentic Fraud Analyst.
- ➤More than 850 clients now use the Agentic AI Workforce.
- ➤Surveillance recorded strategic wins with Kalshi and Kraken.
- ➤Nasdaq partnered with HSBC on exchange-traded derivatives clearing capabilities in Calypso.
- ➤Market Technology signed a deal with Bruce Markets for continuous 24/7 U.S. equities trading.
- ➤Index launched 32 new products, including 10 institutional-annuity products.
- ➤Nasdaq acquired LeveL Markets, an alternative trading system, early in Q4.
- ➤The Nasdaq Stock Market targets 23/5 trading go-live on December 6, 2026.
- ➤Returned $496M to shareholders through dividends and repurchases during the quarter.
- ➤Had $2.2B remaining under the board-authorized share repurchase program.
Management Commentary
Adena Friedman, Chair and CEO
“Nasdaq’s third quarter performance demonstrates the strength and momentum of our business, with new milestones achieved across all three divisions, including record Index net inflows, record FinTech ARR growth, and the establishment of Nasdaq Digital Liquidity Networks within Market Services. Markets are evolving towards an AI-driven, Always-On future that is increasingly integrated across asset classes and geographies. Nasdaq is shaping the next generation of market infrastructure while expanding our growth opportunities and enhancing the value we deliver to our clients and shareholders.”
Sarah Youngwood, Executive Vice President and CFO
“Nasdaq delivered excellent third quarter results, headlined by outstanding Solutions revenue growth, continued operating leverage, and strong EPS growth. Our durable business model and disciplined execution underpin our capital allocation strategy that prioritizes funding investments in long-term growth while returning more than $1.7 billion to shareholders year to date through share repurchases and dividends.”