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Nasdaq (NDAQ) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 23, 2026
Nasdaq (NDAQ) reported revenue of $2.5B for the second quarter 2026 (Q2 2026), +21% from a year earlier and +18% from the quarter before. Operating margin was 28.1%, net earnings $507M (20.0% of revenue).
Nasdaq, Q2 2026: revenue $2.5B (+20% year over year), operating margin 28.1%, net earnings $507M, operating cash flow $711M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | +18% | +21% |
| Gross profit | $1.5B | +7% | +15% |
| Operating profit | $712M | +8% | +25% |
| Net earnings | $507M | -2% | +12% |
| Operating cash flow | $711M | +3% | -5% |
| Free cash flow | $634M | +0.8% | -8% |
What changed
Revenue was $2.5B in Q2 2026, up 21% year over year and up 18% from the previous quarter.
Gross margin was 59.2%, down 2.9 points from Q2 2025. Operating profit was $0.71B, a 28.1% margin (up 1.1 points year over year). Of the extra revenue versus Q2 2025, 33% reached operating profit, above the 27% margin then. Operating expenses grew 7% against revenue growth of 21%. The fastest-growing cost line was Sales & marketing (+71%). Net earnings were $0.51B, up 12% year over year. The effective tax rate was 22.4%.
Operating cash flow was $0.71B (down 5% year over year), 140% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.05B of share-based compensation. Capital expenditures of $0.08B left free cash flow of $0.63B.
Questions
What was Nasdaq's revenue in the second quarter 2026?
Nasdaq (NDAQ) reported revenue of $2.5B for the second quarter 2026 (Q2 2026), +21% from a year earlier and +18% from the quarter before.
Was Nasdaq profitable in the second quarter 2026?
Operating profit was $712M (28.1% of revenue) and net earnings $507M.
Source: Nasdaq 10-Q on SEC EDGAR.