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Here's What Key Metrics Tell Us About Nasdaq (NDAQ) Q3 Earnings

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For the quarter ended September 2026, Nasdaq (NDAQ - Free Report) reported revenue of $1.48 billion, up 12.6% over the same period last year. EPS came in at $1.04, compared to $0.88 in the year-ago quarter.

The reported revenue represents a surprise of +1% over the Zacks Consensus Estimate of $1.47 billion. With the consensus EPS estimate being $1.02, the EPS surprise was +1.96%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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:
  • Cash Equity Trading - Total matched market share executed on Nasdaq?s exchanges: 14.5% versus 14.5% estimated by five analysts on average.
  • Equity Derivative Trading and Clearing - Total matched market share executed on Nasdaq?s exchanges: 28.1% versus 27.9% estimated by five analysts on average.
  • Equity Derivative Trading and Clearing - Total industry average daily volume: 63.8 million versus the three-analyst average estimate of 63.83 million.
  • Cash Equity Trading - Total industry average daily share volume: 16.9 billion compared to the 16.92 billion average estimate based on three analysts.
  • Net Revenues- Financial Technology: $529 million versus the five-analyst average estimate of $524.26 million. The reported number represents a year-over-year change of +15.8%.
  • Net Revenues- Total Market Services, net: $309 million versus the five-analyst average estimate of $302.13 million. The reported number represents a year-over-year change of +2%.
  • Net Revenues- Capital Access Platforms: $641 million versus the five-analyst average estimate of $633.95 million. The reported number represents a year-over-year change of +17.4%.
  • Net Revenues- Financial Technology- Financial Crime Management Technology: $103 million compared to the $103.28 million average estimate based on four analysts. The reported number represents a change of +22.6% year over year.
  • Net Revenues- Financial Technology- Regulatory Technology: $123 million versus the four-analyst average estimate of $122.17 million. The reported number represents a year-over-year change of +12.8%.
  • Net Revenues- Total Market Services, net- U.S. Equity Derivatives Trading: $110 million compared to the $104.69 million average estimate based on four analysts. The reported number represents a change of -11.3% year over year.
  • Net Revenues- Total Market Services, net- Cash Equity Trading (U.S. & European): $146 million versus $141.55 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15% change.
  • Net Revenues- Total Market Services, net- U.S. Tape Plans: $33 million compared to the $33.01 million average estimate based on four analysts. The reported number represents a change of 0% year over year.

View all Key Company Metrics for Nasdaq here>>>

Shares of Nasdaq have returned +0.7% over the past month versus the Zacks S&P 500 composite's no 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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