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Nasdaq (NDAQ) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 22, 2026
Nasdaq (NDAQ) reported revenue of $2.4B for the third quarter 2026 (Q3 2026), +21% from a year earlier and -5% from the quarter before. Operating margin was 30.6%, net earnings $539M (22.5% of revenue).
Nasdaq, Q3 2026: revenue $2.4B (+21% year over year), operating margin 30.6%, net earnings $539M, operating cash flow $521M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4B | -5% | +21% |
| Gross profit | $1.5B | -1% | +13% |
| Operating profit | $732M | +3% | +25% |
| Net earnings | $539M | +6% | +27% |
| Operating cash flow | $521M | -27% | +136% |
| Free cash flow | $459M | -28% | +202% |
What changed
Revenue was $2.4B in Q3 2026, up 21% year over year and down 5% from the previous quarter.
Gross margin was 61.9%, down 4.6 points from Q3 2025. Operating profit was $0.73B, a 30.6% margin (up 1.0 points year over year). Of the extra revenue versus Q3 2025, 35% reached operating profit, above the 30% margin then. Operating expenses grew 3% against revenue growth of 21%. The fastest-growing cost line was Sales & marketing (+31%). Net earnings were $0.54B, up 28% year over year. The effective tax rate was 23.1%.
Operating cash flow was $0.52B (up 136% year over year), 97% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.23B. Capital expenditures of $0.06B left free cash flow of $0.46B.
Questions
What was Nasdaq's revenue in the third quarter 2026?
Nasdaq (NDAQ) reported revenue of $2.4B for the third quarter 2026 (Q3 2026), +21% from a year earlier and -5% from the quarter before.
Was Nasdaq profitable in the third quarter 2026?
Operating profit was $732M (30.6% of revenue) and net earnings $539M.
Source: Nasdaq 10-Q on SEC EDGAR.