NDAQNasdaq, Inc.

Filing: 8-K (Items 2.02, 7.01, 8.01, 9.01) | Filed with the SEC on: October 22, 2026 Current Price: $100.40 | Today's Change: +4.45%

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What Happened

Nasdaq, Inc. filed an 8-K with the SEC on October 22, 2026, disclosing its Q2 FY2026 financial results. The company reported net revenue of $4.196 billion, operating income of $1.115 billion, and net income of $847 million for the quarter. Diluted earnings per share came in at $1.46, with basic EPS of $1.47, underscoring solid profitability across the reporting period. The filing encompasses Items 2.02 (Results of Operations and Financial Condition), 7.01, 8.01, and 9.01, indicating that both formal earnings results and supplemental financial exhibits were submitted simultaneously.

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Why It Matters

• Revenue scale: At $4.196 billion for a single quarter, Nasdaq's top-line figure reflects the continued monetization of its diversified business mix spanning market technology, financial crime management, capital access platforms, and market services.
• Earnings power: Net income of $847 million translates to a net margin of approximately 20% on reported revenue — a meaningful indicator of operating leverage.
• Operating income: The $1.115 billion in operating income signals that the company is converting a substantial portion of revenue into operating profit, even while investing in platform growth and integrations.
• Market reaction: The stock's +4.45% move to $100.40 on the day of this report's publication suggests the market is responding positively to these results, though investors should note that price movements reflect many factors beyond any single filing.

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Analysis

The Q2 FY2026 results indicate that Nasdaq continues to generate meaningful top-line growth relative to the $3.704 billion full-year FY2018 revenue figure present in the filing's XBRL data — a useful longer-term reference point that contextualizes how substantially the company's revenue base has expanded over roughly eight years. Generating more than $4.1 billion in a single quarter versus $3.7 billion for all of FY2018 reflects the transformational impact of major acquisitions and organic growth in subscription-based and technology-driven revenue streams.

The operating income figure of $1.115 billion is particularly worth watching. It reflects Nasdaq's ongoing effort to scale its higher-margin SaaS and analytics businesses, which carry more predictable recurring revenue compared to the historically more volatile trading and listings segments.

Key items to monitor going forward:

• Margin trajectory: Whether operating margins can sustain or expand as integration costs from prior acquisitions normalize.
• Revenue mix shift: The proportion of recurring, subscription-based revenue vs. transaction-sensitive revenue lines, which are more exposed to market volume fluctuations.
• Capital allocation: Any commentary in accompanying exhibits (filed under Items 7.01, 8.01, and 9.01) regarding buybacks, dividends, or debt management in light of the strong cash generation implied by these results.

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Disclaimer

This report is a news and informational summary prepared for general informational purposes only. It is based solely on data extracted from Nasdaq, Inc.'s publicly filed SEC disclosure. It does not constitute investment advice, a solicitation to buy or sell any security, or a research recommendation of any kind. Readers should conduct their own due diligence and consult a qualified financial professional before making any investment decisions.

Source

Filed with the SEC on 2026-10-22. Read the original filing on EDGAR: https://www.sec.gov/Archives/edgar/data/1120193/000112019326000017/ndaq-20261022.htm