Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
NEW YORK - Nasdaq Inc (NASDAQ:NDAQ) reported better-than-expected fourth quarter earnings on Wednesday, driven by strong growth in its financial technology business, sending shares up 0.99% in early trading.
The exchange operator posted adjusted earnings of $0.76 per share, topping analyst estimates of $0.72 per share. Revenue rose 10% to $1.23 billion, also beating expectations.
"2024 was a transformative year for Nasdaq," said CEO Adena Friedman. "We are executing well across our strategic priorities, including driving cross-sell opportunities, innovating across our solutions, and expanding client relationships with our One Nasdaq strategy."
Nasdaq’s financial technology segment saw revenue increase 10% year-over-year to $438 million in Q4. The company highlighted 12% organic growth in financial technology annual recurring revenue.
Index revenue surged 29% to $188 million, benefiting from $28 billion of net inflows in the quarter. Total (EPA:TTEF) assets under management in ETPs tracking Nasdaq indexes reached a record $647 billion.
For the full year 2024, Nasdaq reported adjusted earnings of $2.82 per share on revenue of $4.68 billion.
The company provided 2025 non-GAAP operating expense guidance of $2.25-$2.33 billion. It also expects a 2025 non-GAAP tax rate of 22.5-24.5%.
Nasdaq said it returned $138 million to shareholders through dividends in Q4 and repurchased $181 million of senior unsecured notes.
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