Nasdaq, Inc. (NDAQ) earnings on July 23, 2026

Before the market opens Q2 2026

More Nasdaq, Inc. earnings

Prior outlook: Optimistic Outcome: Partial

The company reported quarterly profit and revenue that beat Wall Street forecasts. The stock jumped early but gave up those gains to close lower, indicating investors had already expected the strong results.

NDAQ price around the earnings

90.42

Change: -0.5%

2026-07-23, 20:00 UTC

Start of the measured window End of the measured window
90.32 91.35 92.37 93.40 90.90
Price series around the eventClosing price per minute from before the event to the end of the measured window.
July 23, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • Start of the measured window
  • End of the measured window
  • Market open
  • Starting price
Price series around the event

Prior thesis

Prior outlook: Optimistic Outcome: Partial

Thesis published
Results released

Pre-release: 100% beat rate, analyst BUY (+17.5% upside), positive news, but high expectations fully priced into +7.73% run-up.

Context analyzed before publication

Trend
Peaked Jul 21 at 92.5, normalizing to 74.7; strong run-up already consumed optimistic catalysts.

Analysts

Evidence

Analyst consensus
Buy
Consensus average (1-5)
1.76
Analysts covering the stock
15
Average price target
106.8
Lowest price target
82
Highest price target
125
Upside to price target
17.5%
Quarterly earnings growth
31.4%
Revenue growth
13.7%
Forward EPS
4.54
Trailing EPS
3.35
Analyst moves in the last 60 days
5
  • Strong buy: 6
  • Buy: 8
  • Hold: 2
  • Sell: 0
  • Strong sell: 1
Strong buy
6
Buy
8
Hold
2
Sell
0
Strong sell
1
  • July 20, 2026 · TD Cowen: Maintains rating (Buy → Buy)
  • July 10, 2026 · Morgan Stanley: Maintains rating (Overweight → Overweight)
  • July 9, 2026 · Raymond James: Maintains rating (Outperform → Outperform)
  • July 9, 2026 · Barclays: Maintains rating (Overweight → Overweight)
  • June 22, 2026 · TD Cowen: Maintains rating (Buy → Buy)

News and sentiment

Evidence

Sentiment
Sentiment
Constructive
Mention volume
Low
Normalized volume
33%
News

There is no news coverage available for this event.

Technicals

Evidence

Average true range (ATR)
2.7%
Distance to 52-week high
-9.4%
14-day change (14d)
+7.7%
30-day change (30d)
+10.1%
30-day relative strength
+9.7%
SPY change (30d)
+0.4%
Nearest support
90.82
Nearest resistance
91.34
Volume accumulation ratio (14d / 46d)
1.2

Trends

Evidence

Average earnings surprise
+4.0%
  • April 23, 2026: actual EPS 0.96 vs estimate 0.93 (surprise +2.8%)
  • January 29, 2026: actual EPS 0.96 vs estimate 0.92 (surprise +4.8%)
  • October 21, 2025: actual EPS 0.88 vs estimate 0.85 (surprise +3.7%)
  • July 24, 2025: actual EPS 0.85 vs estimate 0.81 (surprise +4.5%)

Expected move

Implied move
+4.8%
Source
Options chain

Reactions over its last 19 earnings

Median move
2.1%
75th percentile move
4.5%
90th percentile move
6%
Up / down moves
10 / 9
Average up move
+3.3%
Average down move
-2.9%

Monitoring and close

What Nasdaq, Inc. reported

Status
Finished
Actual EPS1.07
EPS estimate0.98
EPS surprise+9.2%
Revenue$1,500 million
Revenue estimate$1,449 million
Revenue surprise+3.5%

Nasdaq beat Q2 estimates, driven by index and fintech growth. Announced quarterly dividend of $0.31 per share.

Sources (13)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, the figures confirm the optimistic scenario. In the 1571 past cases with a similar move, the close held that direction 76% of the time.

How the stock reacted

Outcome
Partial
Consolidated
-0.5%
Max favorable move (MFE)
3%
Max adverse move (MAE)
0.9%