Nasdaq Q3 revenue rises 15% to $1.3 billion; GAAP EPS up 38% to $0.73
Nasdaq reported third-quarter 2025 results on October 21, 2025, with net revenue of $1.3 billion, up 15% from a year earlier (11% on an organic basis), and GAAP diluted earnings per share of $0.73, up from $0.53. The company also updated its 2025 non-GAAP expense and tax rate guidance and declared a quarterly cash dividend, which matters to shareholders because revenue and earnings both grew while the guidance changes were modest.
Key points
- Third-quarter net revenue was $1.3 billion, up 15%; organic growth was 11%.
- GAAP diluted EPS was $0.73 versus $0.53 a year earlier; non-GAAP diluted EPS was $0.88, up 19%.
- 2025 non-GAAP operating expense guidance is now $2,305 million to $2,335 million, up from $2,295 million to $2,335 million; non-GAAP tax rate guidance was lowered to 22.5% to 23.5%.
- Nasdaq returned $155 million to shareholders through dividends and repurchased $115 million of common stock in the quarter.
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 21, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.