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Nasdaq (NDAQ) Cost of Revenue (2016 - 2026)

Nasdaq has reported Cost of Revenue over the past 18 years, most recently at $730.0 million for Q1 2026.

  • Quarterly Cost of Revenue fell 15.02% to $730.0 million in Q1 2026 from the year-ago period, while the trailing twelve-month figure was $2.9 billion through Mar 2026, down 5.31% year-over-year, with the annual reading at $3.0 billion for FY2025, 9.52% up from the prior year.
  • Cost of Revenue was $730.0 million for Q1 2026 at Nasdaq, roughly flat from $732.0 million in the prior quarter.
  • Over five years, Cost of Revenue peaked at $859.0 million in Q1 2025 and troughed at $508.0 million in Q2 2023.
  • The 5-year median for Cost of Revenue is $659.0 million (2022), against an average of $665.2 million.
  • Biggest five-year swings in Cost of Revenue: fell 23.39% in 2023 and later surged 54.22% in 2025.
  • Tracing NDAQ's Cost of Revenue over 5 years: stood at $675.0 million in 2022, then dropped by 21.48% to $530.0 million in 2023, then skyrocketed by 51.51% to $803.0 million in 2024, then fell by 8.84% to $732.0 million in 2025, then decreased by 0.27% to $730.0 million in 2026.
  • According to Business Quant data, Cost of Revenue over the past three periods came in at $730.0 million, $732.0 million, and $643.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.