For the quarter ended September 2025, Nasdaq (NDAQ) reported revenue of $1.32 billion, up 14.8% over the same period last year. EPS came in at $0.88, compared to $0.74 in the year-ago quarter.
The reported revenue represents a surprise of +1.75% over the Zacks Consensus Estimate of $1.29 billion. With the consensus EPS estimate being $0.84, the EPS surprise was +4.76%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nasdaq performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total matched market share executed on Nasdaq exchanges - Cash Equity Trading: 14.1% versus 14.1% estimated by six analysts on average.
- Total matched market share executed on Nasdaq exchanges - Equity Derivative Trading and Clearing: 28.5% versus the six-analyst average estimate of 28.5%.
- Total industry average daily volume - Equity Derivative Trading and Clearing: 55.8 million versus the four-analyst average estimate of 54.07 million.
- Total industry average daily share volume - Cash Equity Trading: 17.6 billion versus the four-analyst average estimate of 16.14 billion.
- Net Revenues- Total Market Services, net: $303 million versus $292.81 million estimated by seven analysts on average.
- Net Revenues- Financial Technology: $457 million versus the seven-analyst average estimate of $443.36 million. The reported number represents a year-over-year change of +12.8%.
- Net Revenues- Capital Access Platforms: $546 million versus the seven-analyst average estimate of $544.41 million. The reported number represents a year-over-year change of +9%.
- Net Revenues- Capital Access Platforms- Workflow and Insights revenues: $136 million versus $135.87 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
- Net Revenues- Capital Access Platforms- Index revenues: $206 million versus the six-analyst average estimate of $209.62 million. The reported number represents a year-over-year change of +13.2%.
- Net Revenues- Capital Access Platforms- Data and Listing Services revenues: $204 million versus the six-analyst average estimate of $198.49 million. The reported number represents a year-over-year change of +7.4%.
- Net Revenues- Financial Technology- Capital Markets Technology: $264 million versus $258.17 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +12.8% change.
- Net Revenues- Other Revenues: $9 million versus $8.5 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.
View all Key Company Metrics for Nasdaq here>>>
Shares of Nasdaq have returned -1.2% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Nasdaq, Inc. (NDAQ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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