- Nasdaq, Inc. (NASDAQ:NDAQ) clocked a first-quarter revenue increase of 2% year-over-year to $914 million, beating the consensus of $908.93 million.
- Solutions businesses revenues were $646 million in the first quarter of 2023, an increase of 4%, while Trading Services net revenues were $267 million, up by 1%.
- Annualized Recurring Revenue (ARR) increased 7% Y/Y to $2.04 billion, while annualized SaaS revenues jumped 11% to $729 million, driven by solid growth in the fraud detection and anti-money laundering solutions.
- Adjusted operating expenses rose 1.9% to $436 million, while the adjusted operating margin remained flat at 52% Y/Y in the quarter under review.
- “Our strong capital position and free cash flow generation give us the ability to invest in growth initiatives while we continue our dividend growth story with a 10% increase in the quarterly dividend”, Executive Vice President and CFO Ann Dennison said.
- Nasdaq has declared a regular quarterly dividend of $0.22 per share on the company’s outstanding common stock, a 10% increase from the previous quarter. The dividend is payable on June 30, 2023, to shareholders of record at the close of business on June 16, 2023.
- The company reported an adjusted net income of $339 million, up 3% Y/Y. Adjusted earnings per share in Q1 totaled $0.69 per share, up 4.5% on year, beating the Street view of $0.66.
- Outlook: The company updated its 2023 non-GAAP operating expense guidance to $1.78 billion – $1.84 billion (prior guidance: $1.77 billion – $1.85 billion). Nasdaq expects its 2023 non-GAAP tax rate to be 24% – 26%.
- Price Action: NDAQ shares are trading higher by 1.71% at $56.56 during the premarket session on the last check Wednesday.
STMicroelectronics Introduces Market-First Waterproof MEMS Pressure Sensor With 10-Year Longevity For Industrial IoT Expansion
STMicroelectronics introduces market-first waterproof MEMS pressure sensor with 10-year longevity for Industrial IoT expansion
Dual full-scale, 1260 hPa and 4060 hPa, absolute
