Nasdaq Q3 net revenue rises 13% to $1.48B
The quarter included $49 billion in Index net inflows and a declared $0.31 dividend payable December 18, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Nasdaq, Inc. reported third-quarter 2026 net revenue—revenues less transaction-based expenses—of $1.481 billion, up 13% year over year and 14% on an organic basis. Solutions revenue was $1.172 billion, up 17% (18% organic). GAAP diluted EPS was $0.96, up 31%; non-GAAP diluted EPS was $1.04, up 18% reported (19% organic). ARR was $3.365 billion, up 12% reported and 14% organic.
Operating cash flow was $521 million. Nasdaq returned $173 million through dividends and $323 million through common-stock repurchases; $2.2 billion remained under the board-authorized repurchase program as of September 30, 2026. Nasdaq updated 2026 non-GAAP operating expense guidance to $2.550 billion to $2.580 billion and maintained its non-GAAP tax-rate guidance range of 22.5% to 24.5%. The board declared a $0.31 quarterly dividend, payable December 18, 2026, to shareholders of record at the close of business December 4, 2026; future declarations are subject to board approval.
Index net inflows were $49 billion in the quarter. Nasdaq completed its acquisition of LeveL Markets early in the fourth quarter, and The Nasdaq Stock Market remained on track to begin 23/5 trading on December 6, 2026.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNet revenue rose 13% year over year to $1.481 billion.
- Moderate pointGAAP diluted EPS rose 31% year over year to $0.96.
- Moderate pointGAAP operating income rose 25% year over year to $732 million.
Negative
- None.
Insights
Analyzing...
8-K Event Classification
Key Figures
Key Terms
Annualized Recurring Revenue (ARR) financial
ACV bookings financial
Alternative Trading System (ATS) regulatory
ETP assets under management (AUM) financial
organic variance financial
Earnings Snapshot
Updated 2026 non-GAAP operating expense guidance to $2.550 billion to $2.580 billion; maintained 2026 non-GAAP tax rate guidance of 22.5% to 24.5%.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were NDAQ's third-quarter 2026 results?
When is NDAQ's $0.31 dividend payable?
AI-generated analysis. How Rhea-AI works. Not financial advice.

