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Is a Beat in the Cards for Nasdaq This Earnings Season?
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Key Takeaways
Nasdaq Q1 likely benefited from organic growth, tech revenues and strong non-trading performance.
Financial Crime and Capital Markets Tech units gained from subscriptions, new sales and pricing.
Trading volumes surged across equities and options, while listings and data revenues also grew.
Nasdaq, Inc. (NDAQ - Free Report) is expected to register an improvement in both top and bottom lines when it reports first-quarter 2026 results on April 23, before the opening bell.
The Zacks Consensus Estimate for NDAQ’s first-quarter revenues is pegged at $1.37 billion, indicating 10.4% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at 93 cents per share. The estimate suggests a year-over-year increase of 17.7%.
What Our Quantitative Model States
Our proven model predicts an earnings beat for Nasdaq this time around. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold).
Earnings ESP: Nasdaq has an Earnings ESP of +0.57% at present. This is because the Most Accurate Estimate of 94 cents is pegged higher than the Zacks Consensus Estimate of 93 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Nasdaq currently carries a Zacks Rank #3.
Factors to Consider
Continued organic revenue growth, new sales and an increase in Financial Crime Management Technology revenues are likely to have aided Nasdaq’s first-quarter performance.
Non-trading revenues are likely to have benefited from improved results in Capital Access Platforms, Financial Technology and Market Services businesses.
Higher subscription revenues from new and existing clients and higher professional services fees are likely to have aided the Financial Crime Management Technology business.
Higher revenues related to data center growth and higher subscription revenues from new sales and price increases to existing clients are likely to have aided the Capital Markets Technology business.
New listings, an increase in data net sales and usage, and pricing, higher average AUM in exchange-traded products linked to Nasdaq indices, eVestment and Nasdaq Alternative Data sales growth are expected to have aided performance at the Capital Access Platforms division.
An increase in professional & contract services expenses, as well as technology and communication infrastructure, marketing and advertising, depreciation and amortization and regulatory, merger and strategic initiatives is expected to have increased total expenses for the to-be-reported quarter.
Nevertheless, share buybacks in the to-be-reported quarter are anticipated to have provided a boost to the bottom line.
Q1 Volumes
Nasdaq reported impressive volumes for the first quarter of 2026. The U.S. equity options volume increased 23% year over year to 1.1 billion contracts. European options and futures volume increased 10.6% year over year to 17.6 million contracts.
Revenues per contract for the U.S. equity options rose 10% year over year to 11 cents, while the same for European options and futures increased 12.7% to 55 cents.
Under its cash equities, Nasdaq’s U.S. matched equity volume in the first quarter grossed 183.7 billion shares, up 33.5% from the prior-year quarter’s level. European equity volume increased 33.3% year over year to $312 billion.
In the first quarter, there were 4,497 listed companies on the Nasdaq compared with 4,466 in the year-ago period. Total listings increased 7.1% year over year to 5,677.
Other Stocks to Consider
Here are three finance stocks you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat.
Cboe Global Markets, Inc. (CBOE - Free Report) has an Earnings ESP of +7.24% and sports a Zacks Rank #1 at present. The Zacks Consensus Estimate for first-quarter 2026 earnings is pegged at $3.12, indicating a year-over-year increase of 24.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.
CBOE’s earnings beat estimates in each of the last four reported quarters.
Intercontinental Exchange Inc. (ICE - Free Report) has an Earnings ESP of +3.18% and carries a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2026 earnings is pegged at $2.19, indicating a year-over-year increase of 27.3%.
ICE’s earnings beat estimates in each of the last four reported quarters.
Arch Capital Group Ltd. (ACGL - Free Report) has an Earnings ESP of +0.97% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2026 earnings is pegged at $2.46, indicating a year-over-year increase of 59.7%.
ACGL’s earnings beat estimates in each of the last four reported quarters.
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Is a Beat in the Cards for Nasdaq This Earnings Season?
Key Takeaways
Nasdaq, Inc. (NDAQ - Free Report) is expected to register an improvement in both top and bottom lines when it reports first-quarter 2026 results on April 23, before the opening bell.
The Zacks Consensus Estimate for NDAQ’s first-quarter revenues is pegged at $1.37 billion, indicating 10.4% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at 93 cents per share. The estimate suggests a year-over-year increase of 17.7%.
What Our Quantitative Model States
Our proven model predicts an earnings beat for Nasdaq this time around. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold).
Earnings ESP: Nasdaq has an Earnings ESP of +0.57% at present. This is because the Most Accurate Estimate of 94 cents is pegged higher than the Zacks Consensus Estimate of 93 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Nasdaq, Inc. Price and EPS Surprise
Nasdaq, Inc. price-eps-surprise | Nasdaq, Inc. Quote
Zacks Rank: Nasdaq currently carries a Zacks Rank #3.
Factors to Consider
Continued organic revenue growth, new sales and an increase in Financial Crime Management Technology revenues are likely to have aided Nasdaq’s first-quarter performance.
Non-trading revenues are likely to have benefited from improved results in Capital Access Platforms, Financial Technology and Market Services businesses.
Higher subscription revenues from new and existing clients and higher professional services fees are likely to have aided the Financial Crime Management Technology business.
Higher revenues related to data center growth and higher subscription revenues from new sales and price increases to existing clients are likely to have aided the Capital Markets Technology business.
New listings, an increase in data net sales and usage, and pricing, higher average AUM in exchange-traded products linked to Nasdaq indices, eVestment and Nasdaq Alternative Data sales growth are expected to have aided performance at the Capital Access Platforms division.
An increase in professional & contract services expenses, as well as technology and communication infrastructure, marketing and advertising, depreciation and amortization and regulatory, merger and strategic initiatives is expected to have increased total expenses for the to-be-reported quarter.
Nevertheless, share buybacks in the to-be-reported quarter are anticipated to have provided a boost to the bottom line.
Q1 Volumes
Nasdaq reported impressive volumes for the first quarter of 2026. The U.S. equity options volume increased 23% year over year to 1.1 billion contracts. European options and futures volume increased 10.6% year over year to 17.6 million contracts.
Revenues per contract for the U.S. equity options rose 10% year over year to 11 cents, while the same for European options and futures increased 12.7% to 55 cents.
Under its cash equities, Nasdaq’s U.S. matched equity volume in the first quarter grossed 183.7 billion shares, up 33.5% from the prior-year quarter’s level. European equity volume increased 33.3% year over year to $312 billion.
In the first quarter, there were 4,497 listed companies on the Nasdaq compared with 4,466 in the year-ago period. Total listings increased 7.1% year over year to 5,677.
Other Stocks to Consider
Here are three finance stocks you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat.
Cboe Global Markets, Inc. (CBOE - Free Report) has an Earnings ESP of +7.24% and sports a Zacks Rank #1 at present. The Zacks Consensus Estimate for first-quarter 2026 earnings is pegged at $3.12, indicating a year-over-year increase of 24.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.
CBOE’s earnings beat estimates in each of the last four reported quarters.
Intercontinental Exchange Inc. (ICE - Free Report) has an Earnings ESP of +3.18% and carries a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2026 earnings is pegged at $2.19, indicating a year-over-year increase of 27.3%.
ICE’s earnings beat estimates in each of the last four reported quarters.
Arch Capital Group Ltd. (ACGL - Free Report) has an Earnings ESP of +0.97% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2026 earnings is pegged at $2.46, indicating a year-over-year increase of 59.7%.
ACGL’s earnings beat estimates in each of the last four reported quarters.