Nasdaq beat Wall Street estimates for second-quarter profit on Thursday, boosted by several high-profile listings on its exchange and strong demand for its data services in a volatile market environment, reports Reuters.
The quarter was marked by a string of marquee listings on its exchange, including SpaceX's record-breaking IPO, which saw trading volume surpass 500 million shares on the first day.
While IPOs generate negligible fees from the listing itself, trading in equities, options and related market services drive robust revenue for exchanges.
The period was also highly lucrative for trading businesses, which typically benefit during periods of high volatility, as a wave of headlines about the US-Iran war and shifting sentiment on the AI trade led to market swings and drove up demand for hedging.
Nasdaq has diversified its business to mitigate the impact of fluctuating trading volumes by expanding its financial technology and software offerings, unlocking recurring revenue.
The firm posted net revenue of $1.5 billion for the quarter, a 15 per cent increase, largely driven by the strong performance of its capital access platforms segment.
The unit, which accounts for revenue from listing services and market data on products like equities and options, raked in $621 million, a 19 per cent jump.
Despite the surge in volumes, investors have soured on most exchange operators this year, driven by the Commodity Futures Trading Commission's decision to allow Kalshi and Coinbase to offer perpetual futures for cryptocurrencies, seen as eating into their market share.
Nasdaq tops profit estimates on high-profile listings, robust data revenue
FE Team | Published: July 23, 2026 23:17:45
Nasdaq tops profit estimates on high-profile listings, robust data revenue
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