For the quarter ended December 2025, Nasdaq (NDAQ) reported revenue of $1.39 billion, up 13.5% over the same period last year. EPS came in at $0.96, compared to $0.76 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.37 billion, representing a surprise of +1.69%. The company delivered an EPS surprise of +5.19%, with the consensus EPS estimate being $0.91.
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: 14.4% versus the five-analyst average estimate of 14.3%.
- Total matched market share executed on Nasdaq exchanges - Equity Derivative Trading and Clearing: 29.5% compared to the 28.7% average estimate based on five analysts.
- Total industry average daily volume - Equity Derivative Trading and Clearing: 61.1 million versus the four-analyst average estimate of 58.91 million.
- Total industry average daily share volume - Cash Equity Trading: 18.6 billion compared to the 17.71 billion average estimate based on four analysts.
- Net Revenues- Total Market Services, net: $311 million versus the six-analyst average estimate of $303.74 million.
- Net Revenues- Financial Technology: $498 million compared to the $491.35 million average estimate based on six analysts. The reported number represents a change of +13.7% year over year.
- Net Revenues- Capital Access Platforms: $572 million versus the six-analyst average estimate of $561.72 million. The reported number represents a year-over-year change of +11.9%.
- Net Revenues- Capital Access Platforms- Workflow and Insights revenues: $129 million versus $131.58 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.5% change.
- Net Revenues- Capital Access Platforms- Index revenues: $232 million versus the five-analyst average estimate of $227.17 million. The reported number represents a year-over-year change of +23.4%.
- Net Revenues- Capital Access Platforms- Data and Listing Services revenues: $211 million versus $204.7 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.9% change.
- Net Revenues- Financial Technology- Capital Markets Technology: $294 million versus the five-analyst average estimate of $289.51 million. The reported number represents a year-over-year change of +10.1%.
- Net Revenues- Other Revenues: $11 million compared to the $8.6 million average estimate based on five analysts. The reported number represents a change of +10% year over year.
View all Key Company Metrics for Nasdaq here>>>
Shares of Nasdaq have returned +1.6% over the past month versus the Zacks S&P 500 composite's +0.8% 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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