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Dec 31, 2022
Nasdaq Q4 2022 Earnings Report
Nasdaq's Q4 2022 results were released, showing a slight revenue increase and consistent non-GAAP EPS.
Key Takeaways
Nasdaq reported a 2% increase in net revenues for Q4 2022 compared to Q4 2021, with solutions businesses revenues increasing by 3% and trading services net revenues increasing by 1%. GAAP diluted EPS decreased by 6%, while non-GAAP diluted EPS remained unchanged.
Net revenues increased by 2% compared to Q4 2021.
Solutions businesses revenues grew by 3%, driven by organic growth.
Trading Services net revenues increased by 1%, also driven by organic growth.
Non-GAAP diluted EPS was unchanged compared to the prior year.
Revenue by Segment
Forward Guidance
Nasdaq initiated its 2023 non-GAAP operating expense guidance to a range of $1,770 to $1,850 million and expects its 2023 non-GAAP tax rate to be in the range of 24% to 26%.
Positive Outlook
- New corporate structure implemented to amplify strategy.
- Nasdaq's annualized SaaS revenues increased 13% year over year.
- Nasdaq maintained listings leadership in the U.S. and Nordics during 2022.
- Nasdaq led all exchanges in total multiply-listed options traded.
- Nasdaq cloud progress continued with completing a migration of one of our options exchanges and further customer adoption.
Challenges Ahead
- Uncertain macroeconomic backdrop.
- Continued investment in people and businesses leading to increased expenses.
- Lower marketing and advertising expense due to lower capital markets activity.
- Impact of changes in FX rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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