Nasdaq (NDAQ) Revenue & Revenue Breakdown

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Nasdaq Revenue Highlights

Latest Revenue (Y)

$8.22B

Latest Revenue (Q)

$1.96B

Main Segment (Y)

Market Services

Main Geography (Y)

UNITED STATES

Nasdaq Revenue by Period

Nasdaq Revenue by Year

Date	Revenue	Change
2025-12-31	$8.22B	11.05%
2024-12-31	$7.40B	22.03%
2023-12-31	$6.06B	-2.60%
2022-12-31	$6.23B	5.78%
2021-12-31	$5.89B	4.64%
2020-12-31	$5.63B	32.10%
2019-12-31	$4.26B	-0.44%
2018-12-31	$4.28B	8.33%
2017-12-31	$3.95B	6.59%
2016-12-31	$3.70B	8.85%
2015-12-31	$3.40B	-2.77%
2014-12-31	$3.50B	9.00%
2013-12-31	$3.21B	2.92%
2012-12-31	$3.12B	-9.25%
2011-12-31	$3.44B	7.74%
2010-12-31	$3.19B	-6.45%
2009-12-31	$3.41B	-6.55%
2008-12-31	$3.65B	49.80%
2007-12-31	$2.44B	46.98%
2006-12-31	$1.66B	88.40%
2005-12-31	$879.92M	62.81%
2004-12-31	$540.44M	-8.38%
2003-12-31	$589.85M	-25.07%
2002-12-31	$787.15M	-8.17%
2001-12-31	$857.23M	2.94%
2000-12-31	$832.71M	31.29%
1999-12-31	$634.25M	40.69%
1998-12-31	$450.82M	-

Nasdaq generated $8.22B in revenue during NA 2025, up 11.05% compared to the previous quarter, and up 146.10% compared to the same period a year ago.

Nasdaq Revenue by Quarter

Date	Revenue	Change
2025-09-30	$1.96B	-6.32%
2025-06-30	$2.09B	-
2025-03-31	$2.09B	2.96%
2024-12-31	$2.03B	6.73%
2024-09-30	$1.90B	6.14%
2024-06-30	$1.79B	7.05%
2024-03-31	$1.67B	1.64%
2023-12-31	$1.65B	13.51%
2023-09-30	$1.45B	1.26%
2023-06-30	$1.43B	-6.52%
2023-03-31	$1.53B	-3.10%
2022-12-31	$1.58B	1.61%
2022-09-30	$1.56B	0.32%
2022-06-30	$1.55B	1.11%
2022-03-31	$1.53B	4.64%
2021-12-31	$1.47B	8.11%
2021-09-30	$1.36B	-3.90%
2021-06-30	$1.41B	-14.48%
2021-03-31	$1.65B	12.93%
2020-12-31	$1.46B	3.47%
2020-09-30	$1.41B	1.07%
2020-06-30	$1.40B	3.33%
2020-03-31	$1.35B	27.04%
2019-12-31	$1.06B	-2.83%
2019-09-30	$1.10B	3.30%
2019-06-30	$1.06B	2.12%
2019-03-31	$1.04B	-8.54%
2018-12-31	$1.14B	17.84%
2018-09-30	$964.00M	-6.13%
2018-06-30	$1.03B	-10.77%
2018-03-31	$1.15B	12.40%
2017-12-31	$1.02B	5.68%
2017-09-30	$969.00M	-3.10%
2017-06-30	$1.00B	2.99%
2017-03-31	$971.00M	-0.21%
2016-12-31	$973.00M	4.74%
2016-09-30	$929.00M	3.57%
2016-06-30	$897.00M	-0.88%
2016-03-31	$905.00M	4.62%
2015-12-31	$865.00M	-0.69%
2015-09-30	$871.00M	7.93%
2015-06-30	$807.00M	-5.94%
2015-03-31	$858.00M	-6.74%
2014-12-31	$920.00M	12.47%
2014-09-30	$818.00M	-5.43%
2014-06-30	$865.00M	-3.67%
2014-03-31	$898.00M	5.77%
2013-12-31	$849.00M	5.47%
2013-09-30	$805.00M	-1.11%
2013-06-30	$814.00M	9.41%
2013-03-31	$744.00M	-1.06%
2012-12-31	$752.00M	1.21%
2012-09-30	$743.00M	-9.72%
2012-06-30	$823.00M	2.75%
2012-03-31	$801.00M	-4.30%
2011-12-31	$837.00M	-11.52%
2011-09-30	$946.00M	12.89%
2011-06-30	$838.00M	2.57%
2011-03-31	$817.00M	1.36%
2010-12-31	$806.00M	7.32%
2010-09-30	$751.00M	-14.27%
2010-06-30	$876.00M	14.66%
2010-03-31	$764.00M	-6.37%
2009-12-31	$816.00M	0.74%
2009-09-30	$810.00M	-8.89%
2009-06-30	$889.00M	-0.67%
2009-03-31	$895.00M	-12.51%
2008-12-31	$1.02B	3.29%
2008-09-30	$990.38M	20.56%
2008-06-30	$821.48M	0.94%
2008-03-31	$813.83M	22.47%
2007-12-31	$664.49M	-

Nasdaq generated $1.96B in revenue during Q3 2025, up -6.32% compared to the previous quarter, and up 109.26% compared to the same period a year ago.

Nasdaq Revenue Breakdown

Nasdaq Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 25	Dec 24	Dec 23	Dec 22	Dec 21
Market Technology	$1.85B	$1.62B	$30.00M	-	-
Market Services	$4.21B	$3.77B	$3.16B	-	-
Capital Access Platforms	$2.14B	$1.97B	$1.77B	-	-
Financial Technology	-	-	$1.10B	-	-
Other	-	-	$9.00M	-	-
Analytics	-	-	-	-	$125.00M
IR & ESG Services	-	-	-	-	$96.00M

Nasdaq's latest annual revenue breakdown by segment (product or service), as of Dec 25: Market Services (51.38%), Capital Access Platforms (26.06%), and Market Technology (22.56%).

Quarterly Revenue by Product

Product/Service	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Mar 24	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20
Market Technology	$497.00M	$457.00M	$464.00M	$432.00M	$1.54B	$56.00M	$22.00M	$26.00M	$5.00M	$17.00M	-	-	-	-	-	-	-	-	-	-
Capital Access Platforms	$549.00M	$546.00M	$527.00M	$515.00M	$1.76B	$145.00M	$63.00M	-	-	-	-	-	-	-	-	-	-	-	-	-
Market Services	$1.04B	$946.00M	$1.09B	$1.13B	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	-	-	-	$5.00M	$9.00M	-	-	-	-	-	-	-	-	-	-	-	-
Initial Listing Fees	-	-	-	-	-	-	-	-	-	-	$10.00M	$8.00M	$7.00M	$9.00M	$17.00M	$6.00M	$7.00M	-	-	-
IR & ESG Services	-	-	-	-	-	-	-	-	-	-	-	$104.00M	$102.00M	$98.00M	-	-	-	-	-	-
Analytics	-	-	-	-	-	-	-	-	-	-	-	$138.00M	$135.00M	$136.00M	-	-	-	-	-	-
Corporate Solutions Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$1.00M	$3.00M	$15.00M	$22.00M	$2.00M	$8.00M
Annual Renewal Fees And Other	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$1.00M	-	$1.00M	-	$1.00M
Listing Of Additional Shares Fees	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$1.00M	$6.00M	$2.00M	$1.00M
Market Technology Revenues	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$1.00M	$5.00M	$17.00M	$23.00M	$15.00M	$13.00M
Investment Intelligence	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$31.00M	$64.00M	-	-	-	-
Information Services Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$20.00M	$33.00M	$6.00M	$13.00M

Nasdaq's latest quarterly revenue breakdown by segment (product or service), as of Dec 25: Market Services (49.95%), Capital Access Platforms (26.27%), and Market Technology (23.78%).

Nasdaq Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 25	Dec 24	Dec 23	Dec 22	Dec 21
Non-US	$2.31B	$1.58B	$1.19B	$1.13B	$1.06B
UNITED STATES	$5.95B	$5.82B	$4.87B	$5.10B	$4.82B

Nasdaq's latest annual revenue breakdown by geography, as of Dec 25: UNITED STATES (71.98%), and Non-US (28.02%).

Quarterly Revenue by Country

Country	Dec 25	Sep 25	Jun 25	Mar 25
Non-US	$1.13B	$396.00M	$402.00M	$390.00M
UNITED STATES	$997.00M	$1.56B	$1.69B	$1.70B

Nasdaq's latest quarterly revenue breakdown by geography, as of Dec 25: Non-US (53.06%), and UNITED STATES (46.94%).

Nasdaq Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
SPGI	S&P Global	$15.34B	$3.89B
ICE	Intercontinental Exchange	$12.64B	$3.01B
NDAQ	Nasdaq	$8.22B	$1.96B
MCO	Moody's	$7.72B	$2.01B
CME	CME Group	$6.52B	$1.54B
MSCI	MSCI	$3.13B	$793.43M
FDS	FactSet Research Systems	$2.32B	$607.62M

NDAQ Revenue FAQ

What is Nasdaq’s yearly revenue?

Nasdaq's yearly revenue for 2025 was $8.22B, representing an increase of 11.05% compared to 2024. The company's yearly revenue for 2024 was $7.4B, representing an increase of 22.03% compared to 2023. NDAQ's yearly revenue for 2023 was $6.06B, representing a decrease of -2.60% compared to 2022.

What is Nasdaq’s quarterly revenue?

Nasdaq's quarterly revenue for Q3 2025 was $1.96B, a -6.32% decrease from the previous quarter (Q2 2025), and a 2.94% increase year-over-year (Q3 2024). The company's quarterly revenue for Q2 2025 was $2.09B, a 0% increase from the previous quarter (Q1 2025), and a 16.63% increase year-over-year (Q2 2024). NDAQ's quarterly revenue for Q1 2025 was $2.09B, a 2.96% increase from the previous quarter (Q4 2024), and a 24.85% increase year-over-year (Q1 2024).

What is Nasdaq’s revenue growth rate?

Nasdaq's revenue growth rate for the last 3 years (2023-2025) was 35.52%, and for the last 5 years (2021-2025) was 39.62%.

What are Nasdaq’s revenue streams?

Nasdaq's revenue streams in c 25 are Market Technology, Market Services, and Capital Access Platforms. Market Technology generated $1.85B in revenue, accounting 22.56% of the company's total revenue, up 14.13% year-over-year. Market Services generated $4.21B in revenue, accounting 51.38% of the company's total revenue, up 11.75% year-over-year. Capital Access Platforms generated $2.14B in revenue, accounting 26.06% of the company's total revenue, up 8.37% year-over-year.

What is Nasdaq’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of Nasdaq was Market Services. This segment made a revenue of $4.21B, representing 51.38% of the company's total revenue.