Record Revenue Growth
Nasdaq delivered $1.3 billion in net revenue, a year-over-year increase of 11%, with solutions revenue exceeding $1 billion for the first time.
Strong Financial Performance
Operating income was $732 million, up 16%, with a 19% increase in diluted EPS. The operating margin was 56%, and the EBITDA margin was 58%.
Robust Annualized Recurring Revenue
Overall annualized recurring revenue (ARR) grew 9% to $3 billion, with Financial Technology ARR up 12%.
Market Services Growth
Market Services division delivered 13% net revenue growth, driven by elevated volumes in U.S. options and equities.
Successful Cross-Selling Strategy
Achieved 65 new clients, 97 upsells, and 4 cross-sells in Financial Technology, with cross-sells representing over 15% of the sales pipeline.
Innovative AI Implementations
AI-powered solutions like Nasdaq Verafin's Agentic AI digital workers were launched, improving client workflows and reducing compliance workflow time by 80%.
Positive Regulatory Developments
SEC approved IPO documentation with mandatory arbitration and reduced frequency of mandated disclosures, supporting Nasdaq's policy priorities.