Nasdaq reported strong third quarter 2026 results that surpassed analyst expectations, driven by record Index inflows and double-digit growth in Financial Technology. The company continued its transition toward high-margin recurring revenue, with organic Annualized Recurring Revenue (ARR) increasing 14% year-over-year while maintaining disciplined expense management.
Key Highlights
- Net revenue reached $1.48 billion, representing 14% organic growth and exceeding the $1.47 billion analyst estimate.
- Financial Technology revenue rose 16% to $529 million, marking the third consecutive quarter of double-digit growth across all subdivisions.
- Index revenue surged 39% to $286 million, supported by record quarterly net inflows of $49 billion and ETP assets under management of $1.16 trillion.
- Non-GAAP diluted EPS of $1.04 beat the consensus estimate of $1.02, reflecting continued operating leverage.
- Annualized Recurring Revenue (ARR) reached $3.37 billion, with organic SaaS revenue increasing 16% to represent 38% of total ARR.