---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-092227"
form_type: "8-K"
ticker: "NDAQ"
cik: "0001120193"
company_name: "NASDAQ, INC."
filed_at: "2025-04-24T23:59:59+00:00"
generated_at: "2026-05-23T06:41:02.562090+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nasdaq Q1 revenue $1.24B (+11% YoY), EPS $0.68 GAAP (+69%), div raised 13% to $0.27

## Summary
- Net revenue $1.237B (+11% YoY, +12.5% adjusted); GAAP diluted EPS $0.68 (+69%), non-GAAP $0.79 (+24%).
- Solutions revenue $947M (+9% YoY, +11% adjusted); ARR $2.83B (+8%, +9% organic); FinTech $432M (+10%).
- Market Services net revenue $281M (+19%); Index revenue $193M (+14%, +26% adjusted); $86B net inflows TTM.
- Quarterly dividend raised 13% to $0.27 per share, payable June 27 to holders of record June 13, 2025.
- Updated 2025 non-GAAP opex guidance to $2.265-$2.325B; maintained tax rate 22.5%-24.5%; Moody's upgraded debt to Baa1.

## SEC filing metadata
- accession: 0001193125-25-092227
- form_type: 8-K
- ticker: NDAQ
- cik: 0001120193
- company_name: NASDAQ, INC.
- filed_at: 2025-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1120193/000119312525092227/0001193125-25-092227-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1120193/000119312525092227/d859494d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-092227
- JSON: https://secwatch.observer/filing/0001193125-25-092227.json
- Plain text: https://secwatch.observer/filing/0001193125-25-092227.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.