Nasdaq Stock Earnings Reports

Nasdaq reported a strong start to 2026 with $1.4 billion in Q1 net revenue (up 13% YoY), solutions revenue up 14% and diluted EPS of $0.96 (up 21%). Annualized recurring revenue (ARR) reached $3.2 billion (up 12%). Key growth drivers were Financial Technology (record 18% revenue growth; cloud deals were 80% of ACV bookings), expanded fintech bookings and upsells (64 new clients, 85 upsells), strong Data and Index performance (enterprise data license growth, record average ETP AUM of $877 billion) and healthy Market Services volumes (record U.S. equities and options volumes). Nasdaq highlighted broad AI adoption across products (Agentic-AI deployed at 500+ clients) and internal AI initiatives targeting $100 million of expense efficiencies by end-2027. Strategic milestones include SEC approval to extend market hours to 23/5 (targeted launch Dec 6, 2026), FCC approval for trading tokenized securities and continued work with DTCC on tokenization. Financial discipline: operating expense up 8% to $608M, operating margin 57%, EBITDA margin 60%; updated 2026 non-GAAP expense guidance to $2.485–2.545B (raised slightly). Capital returns were meaningful: dividend $0.27 paid in Q1 and board-approved raise to $0.31, and $548M of share repurchases in Q1. Free cash flow was $629M in Q1 and $2.1B over the last 12 months; gross leverage of 2.8x. Management emphasized durable, platform-driven growth across listings/data, fintech, and market services, and positioned Nasdaq as a central partner for clients modernizing infrastructure and adopting AI.