NDAQNasdaq, Inc.
Nasdaq, Inc. (NDAQ) operates as a global market infrastructure provider, offering trading services, data analytics, and technology solutions to capital markets. The next catalyst is Oct 29, 2026 — Q3 2026 Earnings Release, which will test the company’s ability to deliver revenue growth and manage integration costs from recent acquisitions.
- Revenue growth has accelerated to 11.6% YoY, driven by strong performance in Index and FinTech segments.
- Debt-to-equity remains at 0.74x, suggesting a balanced capital structure.
- Net margin (TTM) stands at 21.8%, reflecting disciplined cost control and pricing power.
The Read
Nasdaq’s stock has historically declined sharply, about 13%, after earnings beats when forward guidance highlighted higher integration costs or disappointments, but showed muted, under 3%, moves when solid revenue growth and dividend hikes met expectations without positive surprises.
The schedule
- Tue9Feb
Nasdaq is scheduled to announce its Q4 2026 earnings alongside crucial 2027 full-year revenue and margin guidance.
- Wed10Mar
Expected investor update focused on the progress of the Adenza acquisition, cross-selling milestones, and future capital return strategies.
- Fri23Apr
Q1 2027 results will highlight early-year momentum across the Capital Access Platforms and Financial Technology divisions.
- Thu22Jul
Nasdaq's Q2 2027 report will test the durability of mid-year listing volumes and data subscription retention.
Past
- Thu22Oct
Nasdaq will report its third-quarter 2026 earnings, providing key updates on recurring revenue growth and the ongoing integration of Adenza.
- Thu23Jul
Actual outcome: Bull · $95.96 at outcome
Nasdaq delivered a strong Q2 2026 earnings beat, with net revenue increasing 15% year-over-year to $1.5 billion. The stock rallied past the bull target as investors cheered robust growth in the company's Index and FinTech segments, which successfully expanded margins and drove record Market Services results.
Nasdaq reports Q2 2026 results. The focus is on organic revenue growth and integration costs following a mixed reaction to the Q1 print.
- Fri24Apr
Actual outcome: Mixed · $91.06 at outcome
Nasdaq reported Q1 2026 earnings that met EPS estimates at $0.92 and beat revenue expectations, driven by a 13.7% increase in Solutions and FinTech revenues, alongside a 14.8% dividend hike. Despite these solid fundamental results, the stock experienced a muted reaction, drifting 2.1% lower in the weeks following the event without reaching either the bull or bear targets.
- Thu12Feb
Actual outcome: Bear · $81.41 at outcome
Nasdaq reported a Q4 2025 EPS beat ($0.96 vs. $0.92) and revenue beat, driven by organic growth across divisions. However, the stock plunged 12.8% immediately and continued falling far below the bear floor, indicating that the positive Q4 results were overshadowed by negative forward-looking commentary. The market likely reacted poorly to the updated expense view and 2026 guidance, suggesting higher-than-expected integration costs for Adenza or disappointment regarding the organic growth trajectory of the Solutions segment.
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