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Compared to Estimates, Nasdaq (NDAQ) Q1 Earnings: A Look at Key Metrics

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Nasdaq (NDAQ - Free Report) reported $1.41 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 13.7%. EPS of $0.96 for the same period compares to $0.79 a year ago.

The reported revenue represents a surprise of +2.96% over the Zacks Consensus Estimate of $1.37 billion. With the consensus EPS estimate being $0.93, the EPS surprise was +3.23%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Nasdaq performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Total matched market share executed on Nasdaq exchanges - Cash Equity Trading: 15.1% compared to the 18.8% average estimate based on four analysts.
  • Total matched market share executed on Nasdaq exchanges - Equity Derivative Trading and Clearing: 30.1% compared to the 29.2% average estimate based on three analysts.
  • Total industry average daily volume - Equity Derivative Trading and Clearing: 62.6 million versus the three-analyst average estimate of 62.63 million.
  • Total industry average daily share volume - Cash Equity Trading: 20 billion versus the three-analyst average estimate of 19.59 billion.
  • Net Revenues- Financial Technology: $517 million versus the five-analyst average estimate of $487.78 million. The reported number represents a year-over-year change of +19.7%.
  • Net Revenues- Capital Access Platforms: $565 million versus $572.26 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.7% change.
  • Net Revenues- Total Market Services, net: $317 million versus the five-analyst average estimate of $309.78 million. The reported number represents a year-over-year change of +12.8%.
  • Net Revenues- Financial Technology- Financial Crime Management Technology: $93 million compared to the $92.23 million average estimate based on four analysts. The reported number represents a change of +20.8% year over year.
  • Net Revenues- Financial Technology- Regulatory Technology: $118 million versus $113.99 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +16.8% change.
  • Net Revenues- Total Market Services, net- U.S. Equity Derivative Trading: $120 million versus $117.91 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.1% change.
  • Net Revenues- Total Market Services, net- Cash Equity Trading (U.S. & Europe): $138 million compared to the $130.57 million average estimate based on four analysts. The reported number represents a change of +14.1% year over year.
  • Net Revenues- Total Market Services, net- U.S. Tape plans: $33 million versus the four-analyst average estimate of $34.94 million. The reported number represents a year-over-year change of 0%.

View all Key Company Metrics for Nasdaq here>>>

Shares of Nasdaq have returned +3.1% over the past month versus the Zacks S&P 500 composite's +9.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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