Nasdaq Posts 6% YoY Increase in Net Revenues in Q3 2022

The US stock exchange operator, Nasdaq, has reported its financial results for the third quarter of 2022, showing a slight increase in net revenue on a YoY basis.

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Third quarter 2022 net revenues were $890 million, an increase of $52 million, or 6%, from $838 million in the prior year period. 

Solutions segments revenues were $584 million in the third quarter of 2022, an increase of $43 million, or 8%. 

Market Services net revenues were $305 million in the third quarter of 2022, an increase of $13 million, or 4%. 

Third quarter 2022 GAAP operating expenses increased $10 million, or 2%, versus the prior year period. 

Third quarter 2022 non-GAAP operating expenses increased $20 million, or 5% versus the prior year period. 

Annualized Recurring Revenue (ARR) increased 8% compared to the third quarter of 2021. Annualized SaaS revenues increased 13% and represented 35% of ARR.

Third quarter 2022 GAAP diluted earnings per share increased 5% compared to the third quarter of 2021. Third quarter 2022 non-GAAP4 diluted earnings per share increased 15% compared to the third quarter of 2021.

The company repurchased $633 million in shares of its common stock during the first nine months of 2022. As of September 30, 2022, there was $293 million remaining under the board authorized share repurchase program.

Ann Dennison, Executive Vice President and CFO at Nasdaq, said: “Our third quarter results reflect the carefully calibrated investments in our largest growth opportunities. With our deep client relationships and our resilient business model, we expect to continue to respond effectively to a wide range of operating environments. We have also positioned the balance sheet to minimize the impact of rising rates and to maintain flexibility to support our growth strategy.”