Machine learning predictions based on historical earnings data and price patterns
1-Day Prediction
+1.15%
$94.28
100% positive prob.
5-Day Prediction
+2.98%
$95.98
100% positive prob.
20-Day Prediction
+3.73%
$96.69
95% positive prob.
| Quarter | Signal | 1D Return | 5D Return | 20D Return | Confidence | Actual 5D |
|---|---|---|---|---|---|---|
| Q2 2026 | BUY | +1.15% | +2.98% | +3.73% | 100.0% | Pending |
| Q1 2026 | BUY | +0.81% | +2.58% | +3.61% | 100.0% | +6.56% |
| Q4 2025 | SELL | -1.56% | -3.33% | -0.46% | 100.0% | -12.82% |
SEC 8-K filings with transcript text
Jul 23, 2026 · 100% conf.
1D
+1.15%
$94.28
Act: +1.85%
5D
+2.98%
$95.98
20D
+3.73%
$96.69
2 earningsrelease2q26ex-991.htm
EarningsRelease 2Q26 (EX-99.1)
1
Exhibit 99.1
NEW YORK, July 23, 2026 - Nasdaq, Inc. (Nasdaq: NDAQ) today
reported financial results for the second quarter of 2026.
Adena Friedman, Chair and CEO said,
“Nasdaq delivered an outstanding second
quarter, defined by new records and
milestones. We delivered double-digit
growth across all three divisions,
surpassed $1 trillion in Index ETP AUM,
and listed SpaceX, the largest IPO in
exchange history.
As the forces reshaping global finance
accelerate, from AI and market
modernization to the increasingly
complex regulatory and risk environment,
Nasdaq's role as our clients' trusted
transformation partner positions us for
sustained leadership. We are confident in
our ability to capture the opportunity
ahead and deliver durable, long-term
value for our clients and shareholders.”
•Second quarter 2026 net revenue1 was $1.5 billion, an increase of 15%
on both a reported and adjusted2 basis over the second quarter of 2025.
Solutions revenue3 grew 17% on both a reported and adjusted basis.
•Annualized Recurring Revenue (ARR)3,4 of $3.3 billion increased 11%
on a reported basis over the second quarter of 2025, or 12% on an
organic basis2. Annualized SaaS revenue increased 12%, or 15% on an
organic basis, and represented 38% of ARR.
•Financial Technology revenue was $539 million, an increase of 16%
over the second quarter of 2025, or 15% on an organic basis.
•Index revenue of $271 million grew 38% or 35% on an adjusted basis
over the second quarter of 2025, with $109 billion of net inflows over the
trailing twelve months, including $51 billion in the second quarter of
2026.
•GAAP diluted earnings per share in the second quarter of 2026 was
$0.89, an increase of 14% over the second quarter of 2025. Non-GAAP5
diluted earnings per share in the second quarter of 2026 was $1.07, an
increase of 25% on both a reported and adjusted basis over the second
quarter of 2025.
•In the second quarter of 2026, the company returned $174 million to
shareholders through dividends and $356 million through repurchases of
common stock. The company also net repaid $162 million of debt in the
quarter.
Second Quarter 2026 Highlights
Sarah Youngwood, Executive Vice
President and CFO said, “Nasdaq's
second quarter results mark another
quarter of excellent Solutions revenue
growth, expanding operating margins,
strong EPS growth, and robust cash flow
generation.
Nasdaq’s durable business model and
consistent execution support our
disciplined capital allocation strategy that
returns meaningful capital to
shareholders through both dividends and
share repurchases while investing in
innovations that will sustain our long-term
growth trajectory.”
(US$ millions, except per share)
YoY change %
Organic2
YoY change %
Adjusted2 YoY
change %
Solutions revenue
$1,160
17%
17%
17%
Market Services net revenue
$340
11%
11%
11%
Net revenue
$1,500
15%
16%
15%
GAAP operating income
$712
25%
Non-GAAP operating income
$859
19%
20%
19%
ARR
$3,258
11%
12%
12%
GAAP diluted EPS
$0.89
14%
Non-GAAP diluted EPS
$1.07
25%
26%
25%
2
•Second quarter 2026 net revenue was $1.5 billion, reflecting 15% growth on both a reported
and adjusted basis versus the prior year period.
•Solutions revenue was $1.2 billion in the second quarter of 2026, up 17% on both a reported
and adjusted basis versus the prior year period, reflecting strong growth across Capital
Access Platforms and Financial Technology. Capital Access Platforms revenue growth was
19% year-over-year on a reported basis, or 18% on an adjusted basis. Financial Technology
revenue growth was 16% year-over-year, or 15% on an organic basis.
•ARR was $3.3 billion as of the second quarter of 2026, growing 11% year-over-year on a
reported basis, or 12% year-over-year on an organic basis. Financial Technology ARR growth
was 16% on both a reported and organic basis, and Capital Access Platforms ARR growth
was 8% on both a reported and organic basis.
•Market Services net revenue was $340 million in the second quarter of 2026, up 11% on both
a reported and organic basis versus the prior year period.
•Second quarter 2026 GAAP operating expenses were $788 million, an increase of 7% versus
the prior year quarter and non-GAAP operating expenses were $641 million, up 10% on both
a reported and organic basis versus the prior year quarter. The increases were primarily
driven by higher compensation and benefits costs from our strong revenue execution,
increased marketing and advertising costs due to a strengthening IPO environment, and
increased investments in technology to drive long-term growth. On a GAAP basis, the
increase was partially offset by lower merger and strategic initiatives expense.
•Cash flow from operations was $711 million in the second quarter, enabling the return of
capital through Nasdaq
Apr 23, 2026 · 100% conf.
1D
+0.81%
$86.96
Act: +4.16%
5D
+2.58%
$88.48
Act: +6.56%
20D
+3.61%
$89.37
Act: +4.82%
2 d148002dex991.htm
Exhibit 99.1
Nasdaq Reports First Quarter 2026 Results; Strong Execution Drives Double-Digit Net Revenue Growth Across All Divisions
NEW YORK, April 23, 2026 – Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the first quarter of 2026.
•
First quarter 2026 net revenue1 was $1.4 billion, an increase of 14% over the first quarter of 2025, or 13% on an organic2 basis. Solutions revenue3 grew 14% on both a reported and organic basis.
•
Annualized Recurring Revenue (ARR)3,4 of $3.2 billion increased 13% on a reported basis over the first quarter of 2025, or 12% on an organic basis. Annualized SaaS revenue increased 13%, or 16% on an organic basis, and represented 38% of ARR.
•
Financial Technology revenue was $517 million, an increase of 20% over the first quarter of 2025, or 18% on an organic basis.
•
Index revenue of $220 million grew 14% on both a reported and organic basis over the first quarter of 2025, with $79 billion of net inflows over the trailing twelve months, including $6 billion in the first quarter of 2026.
•
GAAP diluted earnings per share in the first quarter of 2026 was $0.91, an increase of 33% over the first quarter of 2025. Non-GAAP5 diluted earnings per share in the first quarter of 2026 was $0.96, an increase of 22% over the first quarter of 2025, or 21% on an organic basis.
•
In the first quarter of 2026, the company returned $153 million to shareholders through dividends and $548 million through repurchases of common stock.
First Quarter 2026 Highlights
(US$ millions, except per share)
YoY change %
Organic YoY change %
Solutions Revenue
$ 1,082
14 %
14 %
Market Services net revenue
$ 317
13 %
10 %
Net revenue
$ 1,407
14 %
13 %
GAAP operating income
$ 657
20 %
Non-GAAP operating income
$ 799
17 %
17 %
ARR
$ 3,188
13 %
12 %
GAAP diluted EPS
$ 0.91
33 %
Non-GAAP diluted EPS
$ 0.96
22 %
21 %
Adena Friedman, Chair and CEO said, “Nasdaq delivered one of the strongest starts to the year in our company’s history with broad-based growth across all three divisions. Our clients are increasingly turning to Nasdaq as a trusted transformation partner to modernize their core infrastructure, manage risk and increasing complexity, adapt to the evolution of capital markets, and integrate AI to drive greater efficiency in their operations.
As we execute against our strategic priorities of Expand, Evolve, and Transform, we are well positioned to deliver increasing value to our clients and shareholders.”
Sarah Youngwood, Executive Vice President and CFO said, “Nasdaq delivered exceptional first quarter performance with double-digit growth across our three divisions and particular strength in Financial Technology. The mission critical nature of our solutions combined with our execution excellence is helping Nasdaq deliver operating leverage with strong earnings growth.
Nasdaq’s robust cash flow generation enabled the company to return over $700 million to shareholders in the quarter, including nearly $550 million of share repurchases, while reducing leverage and investing for long-term growth.”
•
First quarter 2026 net revenue was $1.4 billion, reflecting 14% growth versus the prior year period. Organic net revenue growth was 13%.
•
Solutions revenue was $1.1 billion in the first quarter of 2026, up 14% on both a reported and organic basis versus the prior year period, reflecting strong growth across Financial Technology and Capital Access Platforms. Financial Technology revenue growth was 20% year-over-year, or 18% on an organic basis, and Capital Access Platforms revenue growth was 11% year-over-year on a reported basis, or 10% on an organic basis.
•
ARR was $3.2 billion as of the first quarter of 2026, growing 13% year-over-year on a reported basis, or 12% year-over-year on an organic basis. Financial Technology ARR growth was 18%, or 16% on an organic basis, and Capital Access Platforms ARR growth was 9%, or 7% on an organic basis.
•
Market Services net revenue was $317 million in the first quarter of 2026, up 13% versus the prior year period, or 10% on an organic basis.
•
First quarter 2026 GAAP operating expenses were $750 million, an increase of 9% versus the prior year quarter. The increase in the first quarter was primarily due to higher compensation and benefits costs and increased general and administrative expenses, partially offset by lower merger and strategic initiatives expense and regulatory expense.
•
First quarter 2026 non-GAAP operating expenses were $608 million, an increase of 10% versus the prior year quarter, or 8% on an organic basis. The organic increase in the quarter reflects higher compensation and benefits costs and increased investments in people and technology to drive long-term growth, partially offset by lower regulatory expense.
•
Cash flow from operations was $689 million in the first quarter, enabling the return of capital
Jan 29, 2026 · 100% conf.
1D
-1.56%
$96.56
Act: -1.20%
5D
-3.33%
$94.83
Act: -12.82%
20D
-0.46%
$97.64
Act: -10.81%
8-K
false 0001120193 0001120193 2026-01-29 2026-01-29 0001120193 ndaq:CommonStock.01parvaluepershareMember 2026-01-29 2026-01-29 0001120193 ndaq:FourPointFiveZeroZeroSeniorNotesDue2032Member 2026-01-29 2026-01-29 0001120193 ndaq:ZeroPointNineZeroZeroSeniorUnsecuredNotesDue2033Member 2026-01-29 2026-01-29 0001120193 ndaq:ZeroPointEightSevenFivePercentSeniorNotesDue2030Member 2026-01-29 2026-01-29 0001120193 ndaq:OnePointSevenFivePercentSeniorNotesDue2029Member 2026-01-29 2026-01-29
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 29, 2026
Nasdaq, Inc. (Exact name of registrant as specified in its charter)
Delaware
001-38855
52-1165937
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
151 W. 42nd Street, New York, New York
10036
(Address of principal executive offices)
(Zip code) Registrant’s telephone number, including area code: +1 212 401 8700 No change since last report (Former Name or Address, If Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value per share
The Nasdaq Stock Market
4.500% Senior Notes due 2032
The Nasdaq Stock Market
0.900% Senior Notes due 2033
The Nasdaq Stock Market
0.875% Senior Notes due 2030
The Nasdaq Stock Market
1.75% Senior Notes due 2029
The Nasdaq Stock Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging Growth Company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On January 29, 2026, Nasdaq, Inc. (“Nasdaq”) issued a press release providing financial results for the fourth quarter and full fiscal year of 2025. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
On January 29, 2026, Nasdaq posted slides to be used in its earnings presentation for the fourth quarter and full fiscal year of 2025 on its website at http://ir.nasdaq.com.
Item 8.01. Other Events.
On January 29, 2026, Nasdaq issued a press release announcing the declaration of a quarterly cash dividend. A copy of the press release is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Exhibit Description
99.1
Press release dated January 29, 2026 relating to financial results for the fourth quarter and full fiscal year of 2025.
99.2
Press release dated January 29, 2026 relating to the declaration of a quarterly cash dividend.
104
Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.
The information set forth under “Item 2.02 Results of Operations and Financial Condition” and “Item 7.01 Regulation FD Disclosure” is intended to be furnished pursuant to Item 2.02 and Item 7.01, respectively. Such information, including Exhibit 99.1, shall not be deemed “filed” for purposes of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference into any of Nasdaq’s filings under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.
-2-
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 29, 2026
By:
/s/ John A. Zecca
Name:
John A. Zecca
Title:
Executive Vice President and Chief Legal Officer
This page provides Nasdaq Inc. (NDAQ) earnings call transcripts from SEC 8-K filings along with AI-powered predictions for post-earnings price movements. Our machine learning models analyze historical earnings data, pre-earnings price patterns, volume changes, and volatility to predict 1-day, 5-day, and 20-day returns after each earnings release.
Earnings transcripts are sourced directly from SEC EDGAR filings. Predictions are generated using gradient boosting models trained on NDAQ's historical earnings reactions. All predicted returns are shown as percentages, and predicted prices are calculated from the closing price at the time of prediction. Past performance does not guarantee future results.