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Nasdaq, Inc. NDAQ Q2 2025 earnings

Reported July 24, 2025 · Before market open

Revenue$2.1BBeat by $812.6M
EPS$0.85Beat by $0.04
Revenue estimate$1.3B
EPS estimate$0.81

Next report

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

Financials

Q2 2025

Income statement

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Revenue$2.1B+17.2%
Gross profit$1.3B+12.7%
Operating income$568.0M+34.3%
Net income$452.0M+104%
EPS (diluted)$0.78+105%

Balance sheet

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Cash & equivalents$4.2B-23.3%
Total debt$10.2B-5.8%
Total equity$11.8B+8.4%
Total assets$30.4B+0.6%

Cash flow

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Operating cash flow$746.0M+62.2%
CapEx$59.0M+13.5%
Free cash flow$687.0M+68.4%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$50.59B+45.9%
Enterprise value$56.58B+41.4%
P/E33.5×-3.1×
P/S6.2×+0.9×

Profitability

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Gross margin60.5%-5.5pp
Operating margin25.6%+1.0pp
Net margin18.6%+4.1pp
FCF margin26.3%+2.8pp

Returns & leverage

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Return on equity13.3%+2.2pp
Debt / equity0.9×-0.1×
Current ratio1×0.0×

Segments

By segment

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Market Services$1.1B+24.7%
Capital Access Platforms$520.0M+8.1%
Financial Technology$464.0M+10.5%

FAQ

When did Nasdaq, Inc. report Q2 2025 earnings?
Nasdaq, Inc. (NDAQ) reported Q2 2025 earnings on July 24, 2025 before market open.
What were Nasdaq, Inc.'s Q2 2025 revenue and EPS?
Nasdaq, Inc. reported revenue of $2.1B and eps of $0.85 for Q2 2025.
Did Nasdaq, Inc. beat estimates in Q2 2025?
Revenue beat the consensus estimate of $1.3B by $812.6M. EPS beat the consensus estimate of $0.81 by $0.04.
How did Nasdaq, Inc.'s Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 16.6% from $1.8B a year earlier and eps grew 23.2% from $0.69.
Where can I find Nasdaq, Inc.'s Q2 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-163817) and the 10-Q periodic report (0001120193-25-000018) directly on SEC EDGAR. The filing index links above go to sec.gov.