Nasdaq Q2 Earnings: Revenue Surge, Financial Tech and Index Segments Show Strong Growth

Nasdaq, Inc. NDAQ reported second-quarter revenue growth of 25% year-on-year to $1.16 billion, beating the analyst consensus estimate of $1.13 billion.

The financial services company reported an adjusted EPS of $0.69, which beat the analyst consensus estimate of $0.64.

Nasdaq’s Annualized Recurring Revenue (ARR) increased 29% Y/Y to $2.7 billion.

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Solutions revenues were $901 million, up by 34% Y/Y, reflecting strong growth from Index and Financial Technology.

Market Services net revenues were $250 million, up by 3% Y/Y. Financial Technology revenues grew by 79% Y/Y to $420 million. Index revenues climbed 29% Y/Y to $167 million.

Nasdaq generated $460 million in operating cash flow and held $440 in cash and equivalents as of June 30, 2024.

Adena Friedman, Chair and CEO, said, “Nasdaq’s strong financial and operational results were underpinned by broad-based growth across our three divisions and another quarter of double-digit Solutions growth.

Outlook: Nasdaq updated its 2024 adjusted operating expense guidance to $2.145 billion – $2.185 billion (prior $2.125 billion – $2.185 billion), maintaining its 2024 non-GAAP tax rate guidance to be in the range of 24.5% to 26.5%.

Nasdaq stock gained 23% in the last 12 months.

Price Action: NDAQ shares traded higher by 5.52% at $66.20 at the last check on Thursday.

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