Global exchange operator Nasdaq (NASDAQ: NDAQ) reported Q1 CY2026 results exceeding the market’s revenue expectations, with sales up 72.8% year on year to $2.14 billion. Its non-GAAP profit of $0.96 per share was 3.1% above analysts’ consensus estimates.
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Nasdaq (NDAQ) Q1 CY2026 Highlights:
- Revenue: $2.14 billion vs analyst estimates of $1.38 billion (72.8% year-on-year growth, 55.2% beat)
- Pre-tax Profit: $677 million (31.7% margin)
- Adjusted EPS: $0.96 vs analyst estimates of $0.93 (3.1% beat)
- Market Capitalization: $49.1 billion
Sarah Youngwood, Executive Vice President and CFO said, “Nasdaq delivered exceptional first quarter performance with double-digit growth across our three divisions and particular strength in Financial Technology. The mission critical nature of our solutions combined with our execution excellence is helping Nasdaq deliver operating leverage with strong earnings growth.
Company Overview
Originally founded in 1971 as the world's first electronic stock market, Nasdaq (NASDAQ: NDAQ) operates global exchanges and provides technology, data, and corporate services that help companies, investors, and financial institutions navigate capital markets.
Revenue Growth
A company’s long-term sales performance is one signal of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Luckily, Nasdaq’s revenue grew at an impressive 15% compounded annual growth rate over the last five years. Its growth beat the average financials company and shows its offerings resonate with customers, a helpful starting point for our analysis.
We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Nasdaq’s annualized revenue growth of 22.5% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Nasdaq reported magnificent year-on-year revenue growth of 72.8%, and its $2.14 billion of revenue beat Wall Street’s estimates by 55.2%.
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Key Takeaways from Nasdaq’s Q1 Results
We were impressed by how significantly Nasdaq blew past analysts’ revenue expectations this quarter. We were also happy its EBITDA outperformed Wall Street’s estimates. Zooming out, we think this was a good print with some key areas of upside. The stock traded up 1.3% to $87.47 immediately after reporting.
Nasdaq put up rock-solid earnings, but one quarter doesn’t necessarily make the stock a buy. Let’s see if this is a good investment. If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here (it’s free).
