Nasdaq's earnings call reflected a strong quarter with significant growth in net revenues and solutions revenue, driven by robust performance in the index business and successful integration of acquisitions. However, challenges such as variability in professional services revenue and a decline in listings revenue were noted. Despite these challenges, the positive highlights significantly outweighed the lowlights.

Company Guidance

During the Nasdaq Third Quarter 2024 Earnings Call, the company provided robust guidance highlighting significant growth metrics and strategic achievements. Nasdaq reported a 10% year-over-year increase in both net revenues and solutions revenue, alongside an 8% growth in total annualized recurring revenue (ARR) to $2.7 billion. The company achieved a 54% operating margin and successfully integrated AxiomSL and Calypso, realizing over 80% of net expense synergies. In the Capital Access Platforms segment, revenue grew by 9%, supported by a 26% increase in Index revenue, while the Financial Technology division saw a 14% rise in ARR. Market Services also recorded a 13% revenue growth, driven by higher volumes in U.S. and European cash equities. Looking forward, Nasdaq anticipates a continued positive trend, buoyed by a constructive economic environment and strategic innovations such as AI-enabled products and the integration of mission-critical technologies.

Strong Financial Performance

Nasdaq delivered a strong quarter with 10% year-over-year growth in both net revenues and solutions revenue. Total annualized recurring revenue grew 8% to $2.7 billion, marking the fourth consecutive quarter of double-digit solutions growth.

Index Business Growth

The index business delivered another exceptional quarter with $62 billion of net inflows in the trailing 12-month period, including $14 billion in the third quarter, resulting in $575 billion in average AUM in the quarter.

Integration of Acquisitions

Successful integration of AxiomSL and Calypso, with over 80% of net expense synergies actioned and a 3.8x leverage ratio achieved in the quarter.

Market Services Record Performance

Nasdaq delivered a record third quarter in Market Services with 13% revenue growth, driven by higher volumes across U.S. and European cash equities, and record revenue for U.S. multi-listed options and proprietary index options.

Cross-Selling Progress

Progress on cross-selling campaigns with 7 cross-sells year-to-date and over 10% of the fintech pipeline coming from cross-sell opportunities.

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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
Jan 22, 2025	2024 (Q4)	0.74 / -	0.72	―	―	―
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)
Jan 31, 2024	2023 (Q4)	0.70 / 0.72	0.64	12.50% (+0.08)
Oct 18, 2023	2023 (Q3)	0.69 / 0.71	0.68	4.41% (+0.03)
Jul 19, 2023	2023 (Q2)	0.66 / 0.71	0.69	2.90% (+0.02)
Apr 19, 2023	2023 (Q1)	0.66 / 0.69	0.657	5.02% (+0.03)
Jan 25, 2023	2022 (Q4)	0.65 / 0.64	0.643	-0.47% (>-0.01)
Oct 19, 2022	2022 (Q3)	0.65 / 0.68	0.593	14.67% (+0.09)

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

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NDAQ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 24, 2024	$73.69	$75.02	+1.80%
Jul 25, 2024	$62.34	$66.84	+7.22%
Apr 25, 2024	$60.87	$59.67	-1.97%
Jan 31, 2024	$57.64	$56.96	-1.18%

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.

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