Key Insights

  • Nasdaq Q3 2026 earnings showed net revenue rising 13% to $1.481 billion.
  • Annualized recurring revenue reached a record $3.365 billion, up 12% on a reported basis.
  • GAAP diluted earnings increased 31% to $0.96 per share as operating income climbed 25%.

Nasdaq Q3 2026 earnings reflected stronger financial-technology and index revenue across the quarter ended Sept. 30. The company released the results on Oct. 22, clearly separating the reporting period from the announcement date.

Nasdaq Q3 2026 earnings lift revenue

Nasdaq reported net revenue of $1.481 billion, up 13% year over year and 14% organically. Solutions revenue increased 17% to $1.172 billion, while Market Services net revenue rose 2% to $309 million.

The chart below shows the two reported revenue components on the same scale. The results follow continued market modernization, including developments covered in our Interactive Brokers autonomous trading report.

Nasdaq Q3 2026 earnings chart showing $1.172 billion in Solutions revenue and $309 million in Market Services net revenue
Nasdaq Q3 revenue mix. Source: Nasdaq, Oct. 22, 2026.

Recurring revenue and index flows set records

Annualized recurring revenue reached $3.365 billion, increasing 12% on a reported basis and 14% organically. Financial Technology revenue rose 16% to $529 million, and annualized SaaS revenue represented 38% of ARR.

Index revenue jumped 39% to $286 million, supported by $49 billion of third-quarter net inflows. Investors should distinguish those flows from the reported $1.160 trillion in end-of-period index ETP assets under management.

Nasdaq Q3 2026 earnings support capital returns

GAAP operating income increased 25% to $732 million, and diluted earnings rose 31% to $0.96 per share. Nasdaq generated $521 million in operating cash flow and returned $496 million through dividends and share repurchases during the quarter.

The company also said its U.S. exchange remains on track to start 23/5 trading on Dec. 6. That plan connects with the venue rules discussed in our SEC tokenized-stock guidance report, while our free cash flow guide explains why cash conversion should be assessed separately from earnings.

Elsy Kanana is a financial and cryptocurrency journalist at FusionMarketNews, covering digital assets, blockchain technology, financial markets, and emerging fintech trends. Her reporting focuses on market movements, regulatory developments, and on-chain analytics, delivering clear, data-driven insights to readers worldwide.