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Nasdaq, Inc. NDAQ Q1 2025 earnings

Reported April 24, 2025 · Before market open

Revenue$2.1BBeat by $859.5M
EPS$0.79Beat by $0.02
Revenue estimate$1.2B
EPS estimate$0.77

Next report

Oct 20, 2026 (In 2 weeks)
Revenue estimate$1.5B
EPS estimate$1.02

Financials

Q1 2025

Income statement

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Revenue$2.1B+25.2%
Gross profit$1.2B+10.7%
Operating income$547.0M+33.4%
Net income$395.0M+68.8%
EPS (diluted)$0.68+70.0%

Balance sheet

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Cash & equivalents$4.7B-9.5%
Total debt$10.2B-2.8%
Total equity$11.5B+6.8%
Total assets$30.6B+1.3%

Cash flow

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Operating cash flow$663.0M+25.1%
CapEx$49.0M+25.6%
Free cash flow$614.0M+25.1%

Valuation & ratios

Valuation

as of 03/31/25
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Market cap$43.63B+20.2%
Enterprise value$49.07B+18.1%
P/E34.1×-2.5×
P/S5.6×-0.3×

Profitability

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Gross margin61%-5.1pp
Operating margin24.7%-0.7pp
Net margin16.3%+0.4pp
FCF margin23.7%-0.5pp

Returns & leverage

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Return on equity11.4%-0.3pp
Debt / equity0.9×-0.1×
Current ratio1×0.0×

Segments

By segment

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Market Services$1.1B+43.6%
Capital Access Platforms$508.0M+6.1%
Financial Technology$432.0M+10.2%

By geography

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United States$1.7B—

FAQ

When did Nasdaq, Inc. report Q1 2025 earnings?
Nasdaq, Inc. (NDAQ) reported Q1 2025 earnings on April 24, 2025 before market open.
What were Nasdaq, Inc.'s Q1 2025 revenue and EPS?
Nasdaq, Inc. reported revenue of $2.1B and eps of $0.79 for Q1 2025.
Did Nasdaq, Inc. beat estimates in Q1 2025?
Revenue beat the consensus estimate of $1.2B by $859.5M. EPS beat the consensus estimate of $0.77 by $0.02.
How did Nasdaq, Inc.'s Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 24.9% from $1.7B a year earlier and eps grew 25.4% from $0.63.
Where can I find Nasdaq, Inc.'s Q1 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-092227) and the 10-Q periodic report (0001120193-25-000012) directly on SEC EDGAR. The filing index links above go to sec.gov.