Nasdaq, Inc.NDAQ reported third-quarter 2026 non-GAAP earnings of $1.04 per share, which increased 18% year over year. The figure beat the Zacks Consensus Estimate of $1.02 by 1.96%.
Net revenues increased 13% to $1.48 billion and topped the consensus estimate of $1.46 billion by 1.4%. Growth was driven by strong Index and Financial Technology performance. Annualized recurring revenues rose 12% to $3.37 billion, with organic growth reaching 14%.
Nasdaq, Inc. Price, Consensus and EPS Surprise
Nasdaq, Inc. price-consensus-eps-surprise-chart | Nasdaq, Inc. Quote
NDAQ Solutions Revenues Maintain Strong Momentum
Solutions revenues advanced 17% year over year to $1.17 billion, representing 79% of net revenues, up from 76% in the prior-year quarter. Organic growth reached 18%, marking the sixth consecutive quarter of double-digit organic growth.
Annualized SaaS revenues increased 12% to $1.27 billion, with organic growth of 16%. SaaS accounted for 38% of ARR, reflecting Nasdaq’s expanding subscription-based business and recurring revenue contribution.
Nasdaq Capital Access Benefits From Index Strength
Capital Access Platforms revenues climbed 20% to $641 million. Index revenues surged 39% to $286 million, supported by higher exchange-traded product assets under management and record derivatives volumes. Data and Listing Services revenues rose 10% to $224 million, while Workflow and Insights revenues increased 6% to $131 million.
Average Index ETP assets under management reached a record $1.11 trillion, up $331 billion year over year. Net inflows totaled $49 billion during the quarter and a record $141 billion over the trailing 12 months. Nasdaq launched 32 new Index products and welcomed eight of the 10 largest operating-company IPOs during the quarter.
NDAQ Financial Technology Delivers Broad-Based Growth
Financial Technology revenues increased 16% to $529 million, with organic growth matching the reported rate. Financial Crime Management Technology revenues rose 23% to $103 million, Regulatory Technology revenues advanced 13% to $123 million, and Capital Markets Technology revenues increased 15% to $303 million on a reported basis.
Financial Technology ARR increased 18% to $1.95 billion. The division signed 54 new clients, five cross-sells and 135 upsells, while cloud-based solutions represented 85% of annual contract value bookings.
Nasdaq Verafin signed 45 small- and medium-sized bank clients and three enterprise deals. Its Agentic AI Workforce expanded to more than 850 clients. Regulatory Technology added 10 new clients and 86 upsells, reflecting demand for cloud infrastructure, AI and regulatory solutions.
