NDAQ Q3 2025 Earnings — Nasdaq, Inc. Revenue & Financial Results | Market Cap Arena

NDAQNasdaq, Inc.

$50B

Q3 2025 Earnings

Financial Services Financial - Data & Stock Exchanges

Income Statement

Revenue

$2.0B+2.9% YoY

Gross Profit

$870M44.4% margin

Operating Income

$586M29.9% margin

Net Income

$423M21.6% margin

EPS (Diluted)

$0.73

QoQ Revenue Growth

-6.3%

Cash Flow

Operating Cash Flow

$221M

Free Cash Flow

$152M

Stock-Based Comp.

$41M

Balance Sheet

Total Assets

$30.7B

Total Liabilities

$18.6B

Stockholders' Equity

$12.0B

Cash & Equivalents

$470M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$2.0B	$1.9B	+2.9%
Gross Profit	$870M	$734M	+18.5%
Operating Income	$586M	$448M	+30.8%
Net Income	$423M	$306M	+38.2%

Revenue Segments

Market Services

$946M49%

Capital Access Platforms

$546M28%

Market Technology

$457M23%

Geographic Segments

UNITED STATES

$1.6B80%

Non-US

$396M20%