Nasdaq, Inc. has unveiled its stellar financial performance for the entirety of 2023, showcasing impressive growth and resilience amid challenging market conditions.
In a year marked by economic fluctuations and market uncertainties, Nasdaq has emerged as a beacon of success.
In 2023, Nasdaq achieved remarkable net revenues of $3.9 billion, an impressive 9% surge compared to the previous year.
Notably, the final quarter of 2023 witnessed an astonishing 23% spike in net revenues when contrasted with the same period in 2022, totaling an impressive $1.1 billion.
The standout performer in Nasdaq’s growth story has been its Solutions segment, which recorded a phenomenal 13% annual increase in revenues, with organic growth reaching an impressive 7%.
The final quarter of 2023 was particularly noteworthy, with solutions revenues skyrocketing by 32%, driven by an organic growth rate of 9%.
Adena Friedman, the Chair and CEO of Nasdaq, expressed her satisfaction, stating, “We delivered another strong year of operating performance in a dynamic economic and capital markets backdrop.”
She further highlighted the company’s achievements, maintaining leadership in U.S. listings, the successful strategy execution for Verafin, and introducing innovative products and services.
Friedman added, “We successfully completed our acquisition of Adenza, bolstering our suite of mission-critical technology solutions and accelerating our strategic vision of being the trusted fabric of the world’s financial system.”
Nasdaq’s Annualized Recurring Revenue (ARR) also witnessed a remarkable surge, reaching $2.6 billion, marking a remarkable 29% increase compared to the final quarter of 2022.
Organic growth in ARR was equally impressive at 6%.
Nasdaq’s Annualized SaaS revenues contributed significantly to its ARR, growing by 26%, with a substantial 12% increase organically.
Sarah Youngwood, the Executive Vice President and CFO of Nasdaq, expressed her enthusiasm, stating, “I am excited to join Nasdaq at such a transformational time for the firm.”
Despite the uncertain environment, Nasdaq delivered robust financial performance and strong cash flow generation.
With the successful closure of the Adenza acquisition, the company now aims to achieve its deal-related financial goals, including cross-selling and synergy targets, along with debt reduction.
Nasdaq’s exceptional financial results for 2023 reflect its ability to navigate challenges and thrive in dynamic markets, solidifying its position as a global leader in the financial industry.