Nasdaq registers 6% Y/Y rise in revenues in Q3 2023

Nasdaq, Inc. (NASDAQ:NDAQ) as we speak reported monetary outcomes for the third quarter of 2023.

Third quarter 2023 web revenues have been $940 million, a rise of $50 million, or 6%, from $890 million within the prior 12 months interval.

Web revenues mirrored a $47 million, or 5%, constructive influence from natural progress, together with constructive contributions from all Options Companies and a $4 million improve from the influence of modifications in FX charges, partially offset by a $1 million lower from the influence of a divestiture.

Options Companies revenues have been $694 million within the third quarter of 2023, a rise of $55 million, or 9% with natural progress of 8%. ARR, which displays the vast majority of the Options Companies revenues and excludes the AUM and transaction licensing parts of Nasdaq’s Index enterprise, elevated 6% from the prior 12 months interval.

Buying and selling Providers web revenues have been $236 million within the third quarter of 2023, a lower of $3 million, or 1%. The lower displays a 2% natural decline, partially offset by a constructive influence from modifications in FX charges.

Third quarter 2023 GAAP working bills elevated $17 million, or 3%, versus the prior 12 months interval. The year-over-year improve primarily displays increased restructuring bills related to the launch of Nasdaq’s divisional alignment program within the fourth quarter of 2022, increased worker compensation prices, and a rise in pc operations and knowledge expense partially offset by decrease normal and administrative expense and a decline in merger and strategic initiatives prices.

The corporate returned $108 million to shareholders by way of dividends, and didn’t repurchase any shares within the third quarter of 2023. As of September 30, 2023, there was $2.0 billion remaining beneath the board approved share repurchase program, following an approval by Nasdaq’s board of administrators in September 2023 to extend the approved quantity of the share repurchase program to an combination of $2.0 billion.

Adena Friedman, Chair and CEO, commented:

“Our third quarter 2023 outcomes replicate Nasdaq’s stable execution amid a continued dynamic financial and capital markets backdrop. We skilled some enchancment within the IPO atmosphere by welcoming marquee IPOs, we continued to broaden our Anti-Monetary Crime clientele, and we launched new improvements to our services and products.

We have now accomplished the antitrust overview course of for our introduced acquisition of Adenza and we count on to shut the transaction within the fourth quarter of 2023. With Adenza, we’re excited to deepen our shopper relationships as we broaden our function as a number one monetary expertise supplier to the worldwide monetary system.”