Global exchange operator Nasdaq (NASDAQ:NDAQ) reported Q3 2026 results beating Wall Street’s revenue expectations, with sales up 14.1% year on year to $1.5 billion. Its non-GAAP profit of $1.04 per share was 2.3% above analysts’ consensus estimates.
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Nasdaq (NDAQ) Q3 2026 highlights:
- Revenue: $1.48 billion vs analyst estimates of $1.47 billion (14.1% year-on-year growth, 1% beat)
- Pre-tax Profit: $701 million (46.7% margin)
- Adjusted EPS: $1.04 vs analyst estimates of $1.02 (2.3% beat)
- Market Capitalization: $53.73 billion
Company overview
Originally founded in 1971 as the world's first electronic stock market, Nasdaq (NASDAQ:NDAQ) operates global exchanges and provides technology, data, and corporate services that help companies, investors, and financial institutions navigate capital markets.
Revenue growth
A company’s long-term sales performance is one signal of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Thankfully, Nasdaq’s 11.8% annualized revenue growth over the last five years was solid. Its growth beat the average financials company and shows its offerings resonate with customers, a helpful starting point for our analysis.
Long-term growth is the most important, but within financials, a half-decade historical view may miss recent interest rate changes and market returns. Nasdaq’s annualized revenue growth of 12.6% over the last two years aligns with its five-year trend, suggesting its demand was predictably strong. 
Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Nasdaq reported year-on-year revenue growth of 14.1%, and its $1.5 billion of revenue exceeded Wall Street’s estimates by 2.4%.
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Key takeaways from Nasdaq’s Q3 results
It was encouraging to see Nasdaq beat analysts’ EBITDA expectations this quarter. We were also happy its revenue outperformed Wall Street’s estimates. Overall, this print had some key positives. The stock remained flat at $96.33 immediately after reporting.
Indeed, Nasdaq had a rock-solid quarterly earnings result, but is this stock a good investment here? If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here (it’s free).