Nasdaq (NDAQ) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 22, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.94

Last Year’s EPS

0.85

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 12 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 23, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a broad set of strong operational and financial wins: double-digit top-line growth, record fintech performance, improved margins, robust ACV bookings, accelerating AI and data adoption, solid cash generation and elevated shareholder returns. Headwinds were largely mix-related (derivatives and capture), a muted corporate solutions environment tied to lower IPO activity, modest short-term index flow volatility, and managed expense growth with near-term timing effects. Overall, the positive growth drivers, scalable ARR momentum, and margin expansion materially outweigh the contained challenges.

Company Guidance

Nasdaq updated its 2026 financial guidance and capital-allocation posture: it raised non‑GAAP operating expense guidance to $2.485–$2.545 billion (from $2.455–$2.535B) while assuming FX impacts consistent with prior expectations, reiterated a 2026 non‑GAAP tax rate of 22.5%–24.5%, and warned of higher expense growth in Q2 driven by the timing of the annual compensation cycle; the company also reiterated a program targeting ~$100 million of AI-driven expense efficiencies by end‑2027 (with the majority in 2027). On capital allocation it generated $629 million of free cash flow in Q1 and $2.1 billion LTM (FCF conversion 12%, or 108% excluding tax‑timing), exited the quarter with gross leverage of 2.8x (in its mid‑to‑high target range), repurchased $548 million of stock in Q1 (versus $616 million in all of 2025), returned over $700 million to shareholders in the quarter (including a $153 million dividend at $0.27/share), and the Board approved raising the dividend to $0.31/share starting with the June payment.

Strong Top-Line Growth

Net revenue of $1.4B, up 13% year-over-year; solutions revenue $1.1B, up 14% YoY; annualized recurring revenue (ARR) $3.2B, up 12% YoY.

Outstanding Profitability and EPS Expansion

Operating income $799M, up 17% YoY; diluted EPS grew 21% to $0.96; operating margin 57% and EBITDA margin 60%, each up ~200 basis points year-over-year.

Record Financial Technology Performance

Financial Technology revenue $517M, up 18% YoY (record); ARR growth 16%; ACV bookings grew more than 50% YoY with 64 new clients, 85 upsells and strong cloud adoption (80% of ACV bookings were cloud-based).

Market Services Momentum

Market Services net revenue $317M, up 10% YoY driven by record U.S. equities and U.S. options volumes; index options revenue more than doubled year-over-year and derivative volumes were at record levels.

Data & Index Franchise Strength

Enterprise license agreements grew 32% YoY; index franchise saw $79B net inflows over last 12 months (including $6B in Q1) and ETP AUM of $836B with record average AUM of $877B (+32% YoY).

Financial Crime Management and AI Adoption

Nasdaq Verafin revenue up 21% YoY with >2,800 clients (nearly $12T in collective assets); Agentic-AI deployed at over 500 clients (up 40% since Investor Day); analytics bookings increased 29% YoY.

Cash Generation & Shareholder Returns

Free cash flow $629M in Q1 and $2.1B LTM; repurchased $548M of shares in Q1 (vs $616M in all of 2025); paid $153M in dividends and Board approved dividend increase to $0.31 per share.

Strategic Product & Market Advancements

Progress on 23/5 market approval (projected launch Dec 6, 2026), FCC approval toward tokenized securities, launched 31 new index products and Nasdaq Private Capital indexes, and expanded Nasdaq-100 distribution partnerships with BlackRock and State Street.

Nasdaq (NDAQ) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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NDAQ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 22, 2026	2026 (Q2)	0.94 / -	0.85	―	―	―
Apr 23, 2026	2026 (Q1)	0.93 / 0.96	0.79	21.52% (+0.17)
Jan 29, 2026	2025 (Q4)	0.92 / 0.96	0.76	26.32% (+0.20)
Oct 21, 2025	2025 (Q3)	0.85 / 0.88	0.74	18.92% (+0.14)
Jul 24, 2025	2025 (Q2)	0.81 / 0.85	0.69	23.19% (+0.16)
Apr 24, 2025	2025 (Q1)	0.77 / 0.79	0.63	25.40% (+0.16)
Jan 29, 2025	2024 (Q4)	0.75 / 0.76	0.72	5.56% (+0.04)
Oct 24, 2024	2024 (Q3)	0.69 / 0.74	0.71	4.23% (+0.03)
Jul 25, 2024	2024 (Q2)	0.64 / 0.69	0.71	-2.82% (-0.02)
Apr 25, 2024	2024 (Q1)	0.65 / 0.63	0.69	-8.70% (-0.06)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NDAQ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 23, 2026	$86.37	$87.04	+0.78%
Jan 29, 2026	$98.40	$97.78	-0.63%
Oct 21, 2025	$88.31	$89.78	+1.65%
Jul 24, 2025	$87.49	$92.66	+5.91%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.