Filing Flows › Nasdaq (NDAQ) › Q3 2026 › vs Q3 2025
Nasdaq (NDAQ) Q3 2026 vs Q3 2025 (year over year)
Nasdaq's revenue rose $414M (+21%) from $2.0B in Q3 2025 to $2.4B in Q3 2026. Gross margin 61.9% against 66.4% (-4.6 pts).
Nasdaq, Q3 2026: revenue $2.4B (+21% year over year), operating margin 30.6%, net earnings $539M, operating cash flow $521M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 61.9% | 66.4% | -4.6 pts |
| Operating margin | 30.6% | 29.6% | +1.0 pts |
| Net margin | 22.5% | 21.4% | +1.1 pts |
| Free cash flow margin | 19.2% | 7.7% | +11.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $2.4B | $2.0B | $414M | +21% |
| Gross profit | $1.5B | $1.3B | $166M | +13% |
| Cost of revenue | $912M | $664M | $248M | +37% |
| Operating profit | $732M | $586M | $146M | +25% |
| Operating expenses | $749M | $729M | $20.0M | +3% |
| Pre-tax earnings | $701M | $529M | $172M | +33% |
| Other expense, net | $31.0M | $57.0M | −$26.0M | -46% |
| Sales & marketing | $17.0M | $13.0M | $4.0M | +31% |
| General & admin | $2.0M | $22.0M | −$20.0M | -91% |
| Other operating costs | $730M | $694M | $36.0M | +5% |
| Net earnings | $539M | $423M | $116M | +27% |
| Income tax | $162M | $106M | $56.0M | +53% |
| Depreciation & amortization | $165M | $158M | $7.0M | +4% |
| Share-based compensation | $47.0M | $41.0M | $6.0M | +15% |
| Working capital & other | $230M | $401M | −$171M | -43% |
| Operating cash flow | $521M | $221M | $300M | +136% |
| Free cash flow (OCF − capex) | $459M | $152M | $307M | +202% |
| Capital expenditures | $62.0M | $69.0M | −$7.0M | -10% |
Questions
How much did Nasdaq's revenue grow year over year in Q3 2026?
Nasdaq's revenue rose $414M (+21%) from $2.0B in Q3 2025 to $2.4B in Q3 2026. Gross margin 61.9% against 66.4% (-4.6 pts).