Nasdaq Inc (NASDAQ:NDAQ) reported first-quarter financial results before the market open on Thursday. Here’s a look at the key details from the quarter.
- Q1 Revenue: $1.24 billion, versus estimates of $1.23 billion
- Q1 Adjusted EPS: 79 cents, versus estimates of 77 cents
Total revenue was up 11% year-over-year and annual recurring revenue climbed 8% year-over-year to $2.8 billion. Solutions revenue grew 9% year-over-year as financial technology revenue increased 10% and index revenue jumped 14%. Market services revenue was up 19% year-over-year to $281 million.
“Nasdaq’s first quarter results underscore the resilience of our business model and our ability to deliver growth across our divisions in a rapidly shifting environment,” said chair and CEO Adena Friedman.
“As a trusted partner and platform company, we are empowering our clients to address their most pressing risks and challenges and confidently navigate complex macroeconomic conditions. With our portfolio of complementary, mission-critical solutions, we are well-positioned to deliver sustainable growth through 2025 and the medium-term.”
Nasdaq declared a quarterly dividend of 27 cents per share, payable on June 27 to shareholders of record as of June 13.
In a separate press release, Nasdaq announced that the company and Amazon.com Inc’s (NASDAQ:AMZN) Amazon Web Services (AWS) will introduce a new suite of solutions including infrastructure, software, data management and services that will enable market operators to overcome modernization barriers.
“Building on our 15-year partnership, Nasdaq and AWS are furthering our shared vision to develop technology that simplifies and streamlines capital markets,” said Matt Garman, CEO at AWS.
NDAQ Price Action: Nasdaq shares were up 1.01% at $74.24 at the time of publication Thursday, according to Benzinga Pro.
Photo: JHVEPhoto/Shutterstock.
