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Nasdaq, Inc. (NASDAQ:NDAQ) on Tuesday, reported third-quarter revenue growth of 15% year over year to $1.315 billion, beating the analyst consensus estimate of $1.297 billion. NDAQ stock is gaining positive traction. Watch the momentum here The financial services company reported adjusted EPS of 88 cents, which beat the analyst consensus estimate of 85 cents. Nasdaq’s Annualized Recurring Revenue (ARR) increased 10% year-over-year to $3.00 billion. Also Read: Banks Can Now Streamline Operations With Nasdaq Calypso On AWS Solutions revenues were $1.00 billion, up by 15% Y/Y, reflecting strong growth from Index and Financial Technology. Market Services’ net revenues were $303 million, up 14% Y/Y. Financial Technology revenues grew by 23% Y/Y to $457 million. Index revenues climbed 13% Y/Y to $206 million. Nasdaq generated $221 million in operating cash flow for the quarter and held $697 million in cash and equivalents as of September 30, 2025. In the third quarter of 2025, the company returned $155 million to shareholders through dividends, repurchased $115 million of common stock, and repurchased $69 million of senior unsecured notes. Chair and CEO Adena Friedman highlighted that Nasdaq crossed major performance milestones in the third quarter, with Solutions revenue exceeding $1 billion and annual recurring revenue reaching $3 billion for the first time. CFO Sarah Youngwood said Nasdaq generated over $2 billion in operating cash flow over the past year. 2025 Outlook Nasdaq updated its 2025 adjusted operating expense guidance to $2.305 billion—$2.335 billion (up from the previous range of $2.295 billion—$2.335 billion). The company also updated its 2025 adjusted tax rate guidance by lowering the range to 22.5%- 23.5% (versus the prior range of 22.5%- 24.5%). Price Action: Nasdaq shares were up 1.43% at $90.13 at the time of publication on Tuesday, according to Benzinga Pro data. Read Next: Google’s Ad Momentum And AI Push Could Power Big Quarter, Analyst Says Photo by JHVEPhoto via Shuttesstock
