Nasdaq announced a revision to its medium‑term Solutions revenue outlook, raising it to a 9‑12% growth range, up from the prior 8‑11% range. The change reflects stronger demand for its platform‑based solutions, particularly in Capital Access Platforms and Financial Technology.
The company also reaffirmed its 2026 expense guidance at $2.455 billion to $2.535 billion, signaling confidence in its cost structure as it scales its technology platform. The guidance lift is supported by the company’s AI‑enabled offerings, which are expected to continue driving recurring revenue growth.
Nasdaq set a target of $100 million in AI‑driven cost savings by 2027, part of an AI productivity program aimed at improving operational efficiency. This target underscores the company’s focus on leveraging AI to reduce expenses while expanding its solutions portfolio.
Management highlighted the durability of Nasdaq’s Solutions‑led growth. Sarah Youngwood said, “Our increased outlook reflects the durability of Nasdaq's Solutions‑led growth, the strength of client demand, and the importance of our mission‑critical solutions. Raising our medium‑term outlook underscores our continued ability to grow organically.” CEO Adena Friedman added, “Nasdaq is the trusted fabric of the global financial system, positioned to deliver growth in a period of tremendous change and opportunity. Nasdaq's core strengths, including our embedded client community, gold‑standard data, deeply integrated solutions, and engineering excellence position us as a trusted transformation partner for our clients. It's an exciting time across the global economy, and we look forward to supporting our clients as they navigate key industry developments, ranging from enterprise‑scale AI adoption and the evolution of private markets to Always‑On markets and the tokenization of equities.”
The guidance revision follows a strong Q4 2025 performance, where Nasdaq reported net revenue of $2.12 billion and a full‑year 2025 net revenue of $5.2 billion. The company’s focus on high‑margin, recurring revenue streams and AI‑driven operational efficiencies positions it to maintain competitive advantage in the market‑infrastructure landscape.
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