secwatch.observer — SEC 8-K summary
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Issuer:     NASDAQ, INC. (NDAQ)
CIK:        0001120193
Form:       8-K
Filed at:   2025-10-21T23:59:59+00:00
Accession:  0001193125-25-244271
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nasdaq Q3 net revenue $1.3B (+15% YoY); ARR reaches $3B milestone
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- Net revenue $1.3B (+15% YoY); Solutions revenue surpassed $1B for first time; ARR $3.0B (+10%).
- GAAP diluted EPS $0.73 (+38%); Non-GAAP diluted EPS $0.88 (+19%).
- Financial Technology revenue $457M (+23%); Index revenue $206M (+13%, $91B net inflows TTM).
- 2025 non-GAAP op expense guidance raised to $2.305-2.335B; non-GAAP tax rate lowered to 22.5-23.5%.
- Quarterly dividend $0.27/share declared, payable Dec 19 to holders of record Dec 5.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1120193/000119312525244271/0001193125-25-244271-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1120193/000119312525244271/d46597d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-244271

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer