Nasdaq Reports 17% Jump in Q3 Revenue

Nasdaq, Inc. (Nasdaq: NDAQ), a major US stock exchange operator, published its financials for the third quarter of 2021, reporting a 17 percent jump in net revenues year-over-year. The company generated $838 million in revenue for the period.

Nasdaq categorizes its services into two primary segments: solutions segments and market services. The company brought in $541 million from solutions segments with a yearly jump of 19 percent. The acquisition of Verafin added $29 million to this segment.

Revenue from market services also increased by 15 percent to $295 million.

Additionally, the results detailed that the annualized recurring revenue (ARR) went up by 19 percent in the quarter, while annualized SaaS revenue jumped 42 percent, representing 34 percent of the ARR.

Profits Strengthened

The financial services company ended the quarter with an operating income of $356 million, while the net quarterly income came down to $288 million, which is 9 percent higher than the previous year.

With the improved revenue, the GAAP diluted earnings per share (EPS) strengthened by 7 percent to $1.69, whereas the non-GAAP diluted EPS came in at $1.78, which is an improvement of 16 percent.

“The strong financial results for the third quarter of 2021 reflect consistent long-term growth in the Anti Financial Crime, Index and Analytics offerings, the benefits of the materially-expanded listed issuer base in our Corporate Platforms segment, and robust performance from the marketplace and connectivity platforms comprising our Market Services business,” said Adena Friedman, President and CEO at Nasdaq.

Furthermore, Nasdaq added that it repurchased $475 million worth of common stock in the quarter under its previously announced buyback program.

Friedman stated: “While results reflect strong execution against a dynamic capital markets backdrop, I am particularly pleased by the 19% increase in ARR and the increasing contribution of our SaaS businesses, which provide a strong base for further growth across all environments.”

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