Nasdaq Q3 Net Revenue Rises 13% to $1.481 Billion as Index Revenue Jumps 39%
New York: Nasdaq, Inc. (Nasdaq: NDAQ) on October 22 reported third-quarter 2026 results. Net revenue was $1.481 billion, up 13% from a year earlier, or 14% on an organic basis. GAAP diluted earnings per share rose 31% to $0.96, while non-GAAP diluted EPS rose 18% to $1.04.
Growth was led by the Solutions businesses, where revenue rose 17% to $1.172 billion. Financial Technology revenue increased 16% to $529 million, with annualized recurring revenue (ARR) growing 18% organically, a record. Index revenue jumped 39% to $286 million, with record net inflows of $141 billion over the trailing twelve months, including $49 billion in the third quarter, and end-of-period exchange-traded product assets under management reaching a record $1.160 trillion. Total company ARR was $3.365 billion, up 12%. Market Services net revenue rose 2% to $309 million, a third-quarter record.
Chair and CEO Adena Friedman said the quarter demonstrated the strength and momentum of the business, with milestones across all three divisions, including record Index net inflows, record FinTech ARR growth, and the establishment of Nasdaq Digital Liquidity Networks within Market Services. She said markets are evolving toward an SI-driven, always-on future increasingly integrated across asset classes and geographies. CFO Sarah Youngwood said the company has returned more than $1.7 billion to shareholders year to date through repurchases and dividends.
In the quarter, Nasdaq returned $173 million through dividends and $323 million through share repurchases, with $2.2 billion remaining under its board-authorized repurchase program as of September 30. Nasdaq welcomed 15 new operating-company listings that raised $32 billion, including eight of the ten largest IPOs of the quarter. The Nasdaq Stock Market remains on track to launch 23/5 trading on December 6. The company updated its 2026 non-GAAP operating expense guidance to $2.550 billion to $2.580 billion and maintained its non-GAAP tax rate guidance of 22.5% to 24.5%.
Published by GSM · USA (original Chinese edition)
Photo: 图：位于纽约 Times Square 的 Nasdaq MarketSite 塔楼（资料图）。Ajay Suresh 摄，CC BY 2.0，经维基共享资源。Photo: The Nasdaq MarketSite tower in Times Square, New York (file photo). Photo by Ajay Suresh, CC BY 2.0, via Wikimedia Commons.
