Earnings Call
Jul 23, 2026
Q2 FY2026
EPS Estimate
0.98
EPS Actual
1.07
Post-Earnings Close
$90.42
Earnings Reaction
-0.5%
Nasdaq's second quarter 2026 results were defined by a series of historic milestones that underscore the company's deepening competitive moat across all three divisions. Index AUM crossed $1 trillion for the first time, driven by record net inflows of $51 billion in the quarter and $109 billion over the trailing twelve months. The SpaceX IPO, the largest in history at $86 billion, anchored what management described as the strongest first half in U.S. exchange history, with $111 billion in operating company proceeds raised. Diluted EPS of $1.07 exceeded $1 for the first time in company history, up 25% year-over-year, while net revenue of $1.5 billion grew 15% and solutions revenue of $1.2 billion grew 17%. Operating and EBITDA margins each expanded 2 percentage points to 57% and 60%, respectively, reflecting disciplined cost management even as the company accelerated investment in AI and marketing tied to the IPO surge.
Report generated on Jul 24, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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