Nasdaq Q1 Revenues Top Estimates, Increase 2% YoY to $914M

Nasdaq, Inc.​ has generated revenues of $914 million for the first quarter of 2023, 2% higher compared to that of the last same period. This was mainly driven by 4% positive impact from organic growth, including contributions from all segments.

On the other hand, the figure was partially offset by an $11 million dip from the impact of changes in FX rates and a $3 million decrease from the net impact of an acquisition and divestiture.

Annualized Recurring Revenue (ARR) for the quarter went up 7% on a yearly basis. Specifically, revenues derived from Trading Services came in at $267 million, growing slightly over Q1 2022. Revenues from the Solutions business increased 4% to $646 million.

The quarterly operating margin was 52%, remaining unchanged over the prior year. Adjusted operating expenses stood at $436 million, rising 1.8% year-over-year. Nasdaq ended the period with $373 million cash and cash equivalents, dipping 25.6% from the previous quarter.

In addition, during the first quarter, the Nasdaq stock market welcomed 81 new company listings, with listed companies totaling 4,163 at the quarter end.