Summary by Futu AI
Nasdaq delivered strong Q3 2024 results with net revenue reaching $1.1 billion, up 22% YoY, while non-GAAP net revenue hit $1.2 billion, increasing 26% YoY. Solutions revenue grew 26% to $872 million, marking the fourth consecutive quarter of double-digit growth. Financial Technology revenue surged 56% to $371 million, while Index revenue rose 26% with $62 billion in net inflows over trailing twelve months.The company's Annualized Recurring Revenue (ARR) grew 31% to $2.7 billion, with Financial Technology showing 14% pro forma ARR growth. Market Services net revenue increased 13% to $266 million, driven by strong performance in U.S. equity derivatives and cash equities. The company maintained its market leadership with an 85% win rate for eligible U.S. operating company IPOs in Q3.Nasdaq declared a quarterly dividend of $0.24 per share, payable on December 20, 2024, to shareholders of record as of December 6, 2024. The company returned $138 million to shareholders through dividends and $88 million through share repurchases in Q3, while also repaying $50 million of commercial paper.
