NDAQ Q2 2025 Earnings — Nasdaq, Inc. Revenue & Financial Results | Market Cap Arena

NDAQNasdaq, Inc.

$50B

Q2 2025 Earnings

Financial Services Financial - Data & Stock Exchanges

Income Statement

Revenue

$2.1B+16.6% YoY

Gross Profit

$861M41.2% margin

Operating Income

$568M27.2% margin

Net Income

$452M21.6% margin

EPS (Diluted)

$0.78

QoQ Revenue Growth

+0.0%

Cash Flow

Operating Cash Flow

$746M

Free Cash Flow

$687M

Stock-Based Comp.

$46M

Balance Sheet

Total Assets

$30.4B

Total Liabilities

$18.6B

Stockholders' Equity

$11.8B

Cash & Equivalents

$732M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$2.1B	$1.8B	+16.6%
Gross Profit	$861M	$744M	+15.7%
Operating Income	$568M	$423M	+34.3%
Net Income	$452M	$222M	+103.6%

Revenue Segments

Market Services

$1.1B52%

Capital Access Platforms

$527M25%

Market Technology

$464M22%

Geographic Segments

UNITED STATES

$1.7B81%

Non-US

$402M19%