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AI brief of an SEC Form 8-K · Nasdaq (NDAQ)

Nasdaq Q4 2025 net revenue rises 13% to $1.4 billion; GAAP EPS up 47% to $0.90

Positive Impact 3 of 5 earnings Written later

Nasdaq reported fourth-quarter and full-year 2025 results with revenue and earnings per share both higher than a year earlier, and declared a quarterly cash dividend. The company set 2026 non-GAAP operating expense guidance of $2.455 billion to $2.535 billion and a non-GAAP tax rate range of 22.5% to 24.5%, which gives shareholders a view of expected costs for the year.

Key points

  • Q4 2025 net revenue was $1.4 billion, up 13%; GAAP diluted EPS was $0.90, up 47%; non-GAAP diluted EPS was $0.96, up 27%.
  • Full-year 2025 net revenue was $5.2 billion, up 13%; GAAP diluted EPS was $3.09, up 60%.
  • 2026 non-GAAP operating expense guidance is $2.455 billion to $2.535 billion.
  • Nasdaq will host its 2026 Investor Day on February 25, 2026.

The filing

CompanyNasdaq (NDAQ)
Form8-K, current report
Filed with the SECJan 29, 2026, 7:29 AM ET
Accession number0001193125-26-028185

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

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 January 29, 2026.

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.