Nasdaq(NASDAQ) NDAQ

Nasdaq, Inc. helps companies list and raise money. It provides software to find financial crimes. Its technology powers global stock exchanges.

Tools for Global Markets

• Capital Access Platforms: Listing services, financial indexes, and market data; accounts for $621 million in net revenue for the quarter ended June 30, 2026.
• Financial Technology: Software for anti-financial crime and regulatory compliance; accounts for $539 million in net revenue in the three months ended June 30, 2026.
• Market Services: Trading and clearing for stocks and derivatives; generated $340 million in net revenue in the quarter ended June 30, 2026.

Shaping the Business

• Divested the Solovis business in Oct. 2025 to streamline the portfolio.
• Integrated Adenza into the Financial Technology segment following its acquisition.
• Sold the Nordic power futures and Risk Modelling for Catastrophes businesses during 2025 and 2026.
• Increased the capacity of its revolving credit facility to $1.50 billion in June 2026.

Modern Market Technology

Nasdaq operates global listing venues that hosted seven of the 10 largest U.S. operating company initial public offerings during the second quarter of 2026. The company also reached a milestone in its index business with assets under management exceeding $1.1 trillion for the first time in mid-2026.

Financial Highlights

• Net revenues less transaction-based expenses rose 14.9% year over year to $1,500 million in the second quarter of 2026.
• Net income attributable to the company reached $507 million in the three months ended June 30, 2026, a 12.2% increase year over year.
• Annualized recurring revenue, which tracks subscription business health, reached $2,729 million as of June 30, 2026.
• Diluted earnings per share were $0.89 for the quarter ended June 30, 2026, up 14.5% year over year.
• The Index business generated net inflows of $109 billion over the 12 months ended June 30, 2026.

Bottom Line

Nasdaq has transitioned from a traditional stock exchange into a diversified global technology provider. Its expansion into anti-financial crime software and data analytics supports a growing subscription-based revenue model.