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NASDAQ tops second quarter earnings, revenue expectations

AuthorSam Boughedda
Published 07/19/2023, 07:59 AM
© Reuters. NASDAQ (NDAQ) tops second quarter earnings, revenue expectations
NDAQ
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Nasdaq (NASDAQ:NDAQ) shares have edged higher premarket on the back of its second-quarter earnings and revenue beat.

The financial services firm posted earnings of $0.71 per share, $0.05 better than the analyst estimate of $0.66 per share. Revenue for the quarter increased 4% YoY, coming in at $925 million versus the consensus estimate of $914.04 million.

Revenue was helped by the company's solutions business which posted revenues of $674M, an increase of $37M, or 6% YoY. Annualized Recurring Revenue (ARR), which reflects the majority of the Solutions Businesses' revenues, also grew 6% from the prior-year period.

Nasdaq updated its 2023 non-GAAP operating expense guidance to between $1.79B and $1.82B. The company expects its 2023 non-GAAP tax rate to be in the range of 24% to 26%.

At the time of writing, Nasdaq shares are up 0.4% premarket.

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