Nasdaq, Inc. (NDAQ) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Atto Garrett, Senior Vice President and Investor Relations Officer. Please go ahead. Good morning, everyone, and thank you for joining us today to discuss NASDAQ's second quarter 2025 financial results. On the line are Adina Friedman, our chair and chief executive officer, Sarah Youngwood, our chief financial officer, and other members of the management team. After prepared remarks, we will open the line for Q&A. The press release and earnings presentation accompanying this call can be found on our investor relations website. I would like to remind you that we will be making forward-looking statements on this call that involve risks. A summary of those risks is contained in our press release with a more complete description in our annual report on Form 10-K. We will discuss our financial performance on a non-GAAP basis excluding the impact of divestitures and the impact of FX. Organic and adjusted growth rates are equivalent this quarter, as they include the same period-over-period adjustments. Definitions and reconciliations of U.S. GAAP to non-GAAP plus adjustments can be found in our earnings presentation, as well as in a file in the financial section of our investor relations website at ir.nasdaq.com. Also, we have included a page in the appendix regarding the sale of our Nordic Powers futures business to Euronext. And with that, I will turn the call over to Adina. Thank you, Otto, and good morning, everyone. I will start with NASDAQ's second quarter results and will then review the p...