Nasdaq's Q3 adjusted EPS up 18%, beatsing estimates

Overview

• Market infrastructure provider's Q3 net revenue rose 13% yr/yr to $1.48 bln

• Adjusted EPS rose 18% yr/yr, beating analyst expectations

• Company returned $323 mln via share repurchases and $173 mln via dividends in Q3

Outlook

• Nasdaq updates 2026 non-GAAP operating expense guidance to $2.55 bln-$2.58 bln

• Company maintains 2026 non-GAAP tax rate guidance at 22.5%-24.5%

• Nasdaq says 23/5 trading launch on track for December 6, 2026

Result Drivers

• SOLUTIONS REVENUE GROWTH - Co said strong growth in Capital Access Platforms and Financial Technology drove solutions revenue higher

• INDEX INFLOWS - Record net inflows and new product launches contributed to 39% index revenue growth

• MARKET SERVICES VOLUMES - Higher industry volumes and increased market share in U.S. cash equities supported Market Services net revenue

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the financial & commodity market operators & service providers peer group is "buy"

• Wall Street's median 12-month price target for Nasdaq Inc is $109.00, about 13.4% above its October 21 closing price of $96.12

• The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 19 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)