Filing Flows › Nasdaq (NDAQ) › Q2 2026 › vs Q1 2026
Nasdaq (NDAQ) Q2 2026 vs Q1 2026 (quarter over quarter)
Nasdaq's revenue rose $395M (+18%) from $2.1B in Q1 2026 to $2.5B in Q2 2026. Gross margin 59.2% against 65.8% (-6.6 pts).
Nasdaq, Q2 2026: revenue $2.5B (+20% year over year), operating margin 28.1%, net earnings $507M, operating cash flow $711M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 59.2% | 65.8% | -6.6 pts |
| Operating margin | 28.1% | 30.7% | -2.6 pts |
| Net margin | 20.0% | 24.3% | -4.3 pts |
| Free cash flow margin | 25.0% | 29.4% | -4.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $2.5B | $2.1B | $395M | +18% |
| Gross profit | $1.5B | $1.4B | $93.0M | +7% |
| Cost of revenue | $1.0B | $730M | $302M | +41% |
| Operating profit | $712M | $657M | $55.0M | +8% |
| Operating expenses | $788M | $750M | $38.0M | +5% |
| Pre-tax earnings | $653M | $677M | −$24.0M | -4% |
| Other expense, net | $59.0M | −$20.0M | $79.0M | — |
| Sales & marketing | $24.0M | $20.0M | $4.0M | +20% |
| General & admin | $23.0M | $29.0M | −$6.0M | -21% |
| Other operating costs | $741M | $701M | $40.0M | +6% |
| Net earnings | $507M | $519M | −$12.0M | -2% |
| Income tax | $146M | $158M | −$12.0M | -8% |
| Depreciation & amortization | $165M | $165M | $0 | 0% |
| Share-based compensation | $49.0M | $38.0M | $11.0M | +29% |
| Working capital & other | $10.0M | $33.0M | −$23.0M | -70% |
| Operating cash flow | $711M | $689M | $22.0M | +3% |
| Free cash flow (OCF − capex) | $634M | $629M | $5.0M | +0.8% |
| Capital expenditures | $77.0M | $60.0M | $17.0M | +28% |
Questions
How much did Nasdaq's revenue grow quarter over quarter in Q2 2026?
Nasdaq's revenue rose $395M (+18%) from $2.1B in Q1 2026 to $2.5B in Q2 2026. Gross margin 59.2% against 65.8% (-6.6 pts).