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Nasdaq Inc (NDAQ)
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Nasdaq Reports Strong Q1 2026 Results

Last updated: April 23, 2026
Taurigo

1. A Record Start to the Year

Nasdaq, Inc. (Nasdaq: NDAQ) has reported exceptional financial results for the first quarter of 2026, showcasing robust growth across all divisions. The company announced net revenues of $1.4 billion, marking a 14% increase from the same quarter in 2025. This impressive performance is underscored by a 13% organic growth, reflecting the company’s steadfast execution and strategic initiatives.

Revenue Breakdown and Key Metrics

The financial performance of Nasdaq's various segments reveals a comprehensive growth story:

  • Solutions Revenue stood at $1.1 billion, reflecting a 14% year-over-year (YoY) growth on both a reported and organic basis.
  • Financial Technology Revenue surged to $517 million, showcasing a 20% increase over Q1 2025, or 18% on an organic basis.
  • The Index Segment generated $220 million in revenue, demonstrating a 14% growth from the previous year and recording $79 billion in net inflows over the trailing twelve months.

The company’s Annualized Recurring Revenue (ARR) reached $3.2 billion, up 13% YoY, with a 12% organic growth rate. Notably, Annualized Software-as-a-Service (SaaS) revenue grew by 13%, contributing to 38% of total ARR.

Earnings Performance

Nasdaq reported a GAAP diluted earnings per share (EPS) of $0.91, representing a significant 33% increase compared to Q1 2025. The non-GAAP diluted EPS also witnessed a substantial rise, reaching $0.96, a 22% increase YoY.

The company reported an operating income of $657 million, up 20%, while non-GAAP operating income reached $799 million, a 17% increase from last year. Nasdaq's operating expenses for the quarter totaled $750 million, a 9% increase YoY, primarily driven by higher compensation and benefits costs.

Shareholder Returns

In a demonstration of its commitment to shareholder value, Nasdaq returned a total of $701 million to shareholders during the quarter. This included $153 million in dividends and $548 million in stock repurchases, highlighting the company’s strong cash flow generation capabilities.

2. Leadership Insights

Adena Friedman, Chair and CEO of Nasdaq, expressed her pride in the company’s performance, stating, “Nasdaq delivered one of the strongest starts to the year in our company’s history with broad-based growth across all three divisions.” She emphasized the increasing reliance of clients on Nasdaq as a transformation partner, particularly in modernizing core infrastructures and integrating artificial intelligence into operations.

Sarah Youngwood, Executive Vice President and CFO, pointed out the company's exceptional first-quarter performance, highlighting the dual-digit growth across divisions, especially in Financial Technology. She noted that Nasdaq's strategic execution has enabled robust cash flow generation, allowing for significant returns to shareholders while also investing for long-term growth.

3. Strategic and Business Updates

Nasdaq's strategic initiatives continue to drive its growth trajectory. Highlights from Q1 2026 include:

  • Record Annualized Contract Value (ACV) Bookings in Financial Technology, with a 50% increase compared to the prior year.
  • Strong sales in Financial Crime Management Technology, adding 58 new small-and-medium bank clients, reflecting a 24% increase in new ACV bookings.
  • Successful launches of new AI capabilities in Regulatory Technology, enhancing surveillance services and client engagement.

Furthermore, Nasdaq has expanded access to the Nasdaq-100 through new partnerships with prominent firms like BlackRock and State Street, while maintaining its long-standing relationship with Invesco.

Looking Forward

Nasdaq has updated its 2026 non-GAAP operating expense guidance to a range of $2.485 billion to $2.545 billion, while maintaining its non-GAAP tax rate guidance between 22.5% and 24.5%. The company remains focused on executing its strategic priorities of expanding, evolving, and transforming, aiming to deliver increasing value to both clients and shareholders.

As Nasdaq continues to modernize financial markets and innovate in technology, the outlook for the remainder of 2026 appears promising, with expectations for sustained growth and enhanced shareholder returns.

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