Nasdaq Sees Recurring Revenue Soar 31% In Q3, Solutions Rake In $872M
Portfolio Pulse from Anusuya Lahiri
Nasdaq, Inc. reported a 22% increase in Q3 revenue to $1.15 billion, missing the $1.17 billion analyst estimate. Adjusted EPS beat expectations at 74 cents. Despite a 31% rise in Annualized Recurring Revenue, the stock price fell. Solutions revenue grew 26% to $872 million, with strong growth in Index and Financial Technology. Nasdaq updated its 2024 expense and tax rate guidance.
October 24, 2024 | 1:20 pm
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Nasdaq's Q3 revenue grew 22% to $1.15 billion, missing estimates, but EPS beat expectations. Despite a 31% increase in ARR, the stock price fell. Solutions revenue showed strong growth, particularly in Index and Financial Technology.
Nasdaq's revenue growth was strong but missed analyst estimates, which likely contributed to the stock price decline. The beat on EPS and strong growth in Solutions revenue are positives, but the market may be reacting to the revenue miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100