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Nasdaq (NDAQ) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 24, 2026
Nasdaq (NDAQ) reported revenue of $2.1B for the first quarter 2026 (Q1 2026), +2% from a year earlier and +2% from the quarter before. Operating margin was 30.7%, net earnings $519M (24.3% of revenue).
Nasdaq, Q1 2026: revenue $2.1B (+2% year over year), operating margin 30.7%, net earnings $519M, operating cash flow $689M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | +2% | +2% |
| Gross profit | $1.4B | +1% | +14% |
| Operating profit | $657M | +4% | +20% |
| Net earnings | $519M | +0.2% | +31% |
| Operating cash flow | $689M | +10% | +4% |
| Free cash flow | $629M | +17% | +2% |
What changed
Revenue was $2.1B in Q1 2026, up 2% year over year and up 2% from the previous quarter.
Gross margin was 65.8%, up 6.8 points from Q1 2025. Operating profit was $0.66B, a 30.7% margin (up 4.6 points year over year). Of the extra revenue versus Q1 2025, 268% reached operating profit, above the 26% margin then. Operating expenses grew 9% against revenue growth of 2%. The fastest-growing cost line was General & admin (+383%). Net earnings were $0.52B, up 31% year over year. The effective tax rate was 23.3%.
Operating cash flow was $0.69B (up 4% year over year), 133% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.04B of share-based compensation. Capital expenditures of $0.06B left free cash flow of $0.63B.
Questions
What was Nasdaq's revenue in the first quarter 2026?
Nasdaq (NDAQ) reported revenue of $2.1B for the first quarter 2026 (Q1 2026), +2% from a year earlier and +2% from the quarter before.
Was Nasdaq profitable in the first quarter 2026?
Operating profit was $657M (30.7% of revenue) and net earnings $519M.
Source: Nasdaq 10-Q on SEC EDGAR.