NASDAQ, INC. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: Nasdaq delivered a strong Q1 2026 with net income surging 31.4% YoY to $519M, driven by a 13.7% gross profit expansion and significant cost-of-revenue reduction, while the company aggressively returned capital via $548M in share buybacks.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue grew modestly by 2.0% YoY to $2.137B in Q1 2026, but the more impactful story is the dramatic 15.0% reduction in cost of revenue (from $859M to $730M), which expanded gross profit by 13.7% to $1.407B and pushed gross margin from ~59.0% to ~65.8%.
Operating income rose 20.1% YoY to $657M, with operating margin expanding approximately 4.6 percentage points to 30.7%. This demonstrates meaningful operating leverage as Nasdaq scales its business while controlling costs.
Net income jumped 31.4% YoY to $519M, with diluted EPS increasing 33.8% to $0.91 from $0.68 in the prior-year period. The EPS growth rate outpacing net income growth reflects the impact of share buybacks reducing the share count.
Revenue
$2.14B
++1.96% YoY
EPS (Basic)
$0.92
++33.33% YoY
Gross Margin
65.8%
++6.82% YoY
Operating Income
$657M
++20.11% YoY
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