NASDAQ INC

For the period ended Mar 31, 2025. Filed Apr 28, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed Apr 28, 2025

NDAQ$110.02+1.4%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income

(in millions, except per share amounts)

	Three Months Ended March 31,
	2025	2024
Revenues:
Capital Access Platforms	$515	$479
Financial Technology	432	392
Market Services	1,134	794
Other revenues	9	9
Total revenues	2,090	1,674
Transaction-based expenses:
Transaction rebates	(579)	(481)
Brokerage, clearance and exchange fees	(274)	(76)
Revenues less transaction-based expenses	1,237	1,117
Operating expenses:
Compensation and benefits	329	340
Professional and contract services	36	34
Technology and communication infrastructure	77	67
Occupancy	28	28
General, administrative and other	6	28
Marketing and advertising	14	11
Depreciation and amortization	156	155
Regulatory	15	9
Merger and strategic initiatives	24	9
Restructuring charges	5	26
Total operating expenses	690	707
Operating income	547	410
Interest income	11	6
Interest expense	(96)	(108)
Other income (loss)	(1)	1
Net income from unconsolidated investees	27	3
Income before income taxes	488	312
Income tax provision	93	79
Net income	395	233
Net loss attributable to noncontrolling interests	—	1
Net income attributable to Nasdaq	$395	$234
Per share information:
Basic earnings per share	$0.69	$0.41
Diluted earnings per share	$0.68	$0.40
Cash dividends declared per common share	$0.24	$0.22

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.