Nasdaq, Inc. reported its financial results for the third quarter of 2025, revealing a total revenue of $1.958 billion, a 3% increase from $1.902 billion in the same period last year. The company's operating income rose significantly by 31% to $586 million, compared to $448 million in the prior year. Net income attributable to Nasdaq also saw a substantial increase of 38% to $423 million, or $0.73 per diluted share, up from $306 million, or $0.53 per diluted share, in the third quarter of 2024. For the nine months ended September 30, 2025, total revenues reached $6.138 billion, a 14% increase from $5.370 billion in the same period of 2024.
The company experienced notable growth across its business segments. The Capital Access Platforms segment generated $546 million in revenue, up 9% year-over-year, while the Financial Technology segment saw a 23% increase in revenue to $457 million. However, the Market Services segment reported a decline in revenue to $946 million, down 7% from the previous year, primarily due to lower transaction volumes. Nasdaq's Annualized Recurring Revenue (ARR) also grew, reflecting a strong performance in subscription-based services, particularly in the Financial Technology segment, which reported a 12% increase.
Strategically, Nasdaq has been active in optimizing its operations and expanding its offerings. The company completed the sale of its Nasdaq Solovis business in October 2025, which is expected to result in a gain recorded in the fourth quarter. Additionally, Nasdaq has been focusing on enhancing its technology infrastructure, with increased investments in cloud initiatives and software licensing. The company also reported a headcount increase to 9,625 employees as of September 30, 2025, up from 9,120 a year earlier, indicating a commitment to support its growth trajectory.
In terms of operational metrics, Nasdaq reported a total of 5,492 companies listed across its exchanges as of September 30, 2025, with a combined market capitalization of approximately $38.6 trillion in the U.S. and $2.2 trillion in Europe. The company also noted record inflows into its index products, with $17 billion in net inflows during the third quarter alone. Looking ahead, Nasdaq anticipates continued growth driven by its strategic initiatives and a favorable macroeconomic environment, although it remains cautious about potential market volatility and regulatory changes that could impact its operations.
About NASDAQ, INC.
Nasdaq is a global technology company providing market infrastructure, data, analytics, and trading solutions. It operates stock, options, and fixed income exchanges across North America and Europe, offering listing services, indices, and corporate solutions. Its core value lies in enhancing liquidity, transparency, and integrity of financial markets through innovative, technology-driven platforms and regulatory compliance services.
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