For the quarter ended September 2025, Nasdaq (NDAQ) reported revenue of $1.32 billion, up 14.8% over the same period last year. EPS came in at $0.88, compared to $0.74 in the year-ago quarter.
The reported revenue represents a surprise of +1.75% over the Zacks Consensus Estimate of $1.29 billion. With the consensus EPS estimate being $0.84, the EPS surprise was +4.76%.
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: 14.1% versus 14.1% estimated by six analysts on average.
- Total matched market share executed on Nasdaq exchanges - Equity Derivative Trading and Clearing: 28.5% versus the six-analyst average estimate of 28.5%.
- Total industry average daily volume - Equity Derivative Trading and Clearing: 55.8 million versus the four-analyst average estimate of 54.07 million.
- Total industry average daily share volume - Cash Equity Trading: 17.6 billion versus the four-analyst average estimate of 16.14 billion.
- Net Revenues- Total Market Services, net: $303 million versus $292.81 million estimated by seven analysts on average.
- Net Revenues- Financial Technology: $457 million versus the seven-analyst average estimate of $443.36 million. The reported number represents a year-over-year change of +12.8%.
- Net Revenues- Capital Access Platforms: $546 million versus the seven-analyst average estimate of $544.41 million. The reported number represents a year-over-year change of +9%.
- Net Revenues- Capital Access Platforms- Workflow and Insights revenues: $136 million versus $135.87 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
- Net Revenues- Capital Access Platforms- Index revenues: $206 million versus the six-analyst average estimate of $209.62 million. The reported number represents a year-over-year change of +13.2%.
- Net Revenues- Capital Access Platforms- Data and Listing Services revenues: $204 million versus the six-analyst average estimate of $198.49 million. The reported number represents a year-over-year change of +7.4%.
- Net Revenues- Financial Technology- Capital Markets Technology: $264 million versus $258.17 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +12.8% change.
- Net Revenues- Other Revenues: $9 million versus $8.5 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.
View all Key Company Metrics for Nasdaq here>>>
Shares of Nasdaq have returned -1.2% over the past month versus the Zacks S&P 500 composite's +1.2% 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.5 Stocks Set to Double
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
