Nasdaq Reports Second Quarter 2024 Results; Strong Performance Across All Divisions with Double-Digit Solutions Growth

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[{"type":"text","content":"NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the second quarter of 2024. Second quarter 2024 net revenues1 were $1.2 billion, an increase of 25% over the second quarter of 2023, up 10% on a pro forma2 basis. This included Solutions3 revenues increasing 34%, or 13% on a pro forma basis. Annualized Recurring Revenue (ARR)4 of $2.7 billion increased 29% over the second quarter of 2023, up 7% on a pro forma basis. Financial Technology revenues of $420 million increased 79% over the second quarter of 2023, up 16% on a pro forma basis. Index revenues of $167 million increased 29%, with $53 billion of net inflows over the trailing twelve months and $17 billion in the second quarter. GAAP diluted earnings per share decreased 30% in the second quarter of 2024. Non-GAAP5 diluted earnings per share decreased 3% in the second quarter of 2024, but increased 7% organically. In the second quarter of 2024, the company returned $138 million to shareholders through dividends and $58 million through share repurchases of common stock. The company also repaid a net $174 million of commercial paper in the second quarter of 2024. Second Quarter 2024 Highlights (US$ millions, except per share)2Q24Change %(YoY)Organic Change % (YoY)Pro Forma Change %(YoY)*Solutions Revenues$90134%9%13%Market Services Net Revenues$2503%3%3%Net Revenues**$1,15925%7%10%GAAP Operating income$42311% Non-GAAP Operating income$62028%7%14%ARR$2,66829%6%7%GAAP Diluted EPS$0.38(30)% Non-GAAP Diluted EPS$0.69(3)%7% *Pro forma results are presented assuming AxiomSL and Calypso were included in the prior year quarterly results. Pro forma growth excludes the impacts of foreign currency except for AxiomSL and Calypso, which are not yet calculated on an organic basis. **Net revenues includes $8 million of Other Revenues, which primarily reflect revenues associated with the European power trading and clearing business. Adena Friedman, Chair and CEO said, “Nasdaq’s strong financial and operational results were underpinned by broad-based growth across our three divisions and another quarter of double-digit Solutions growth. We continued the momentum in our Financial Technology division as financial institutions remain focused on resilience, risk management, and infrastructure modernization. We are also pleased with our progre...

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