Nasdaq (NDAQ) Cost of Revenue (2009 - 2026)

Nasdaq has reported Cost of Revenue for 18 years, with the latest figure at $1.0 billion in Q2 2026.

• Quarterly Cost of Revenue rose 29.81% year-over-year to $1.0 billion in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $3.1 billion (down 2.37% YoY) and the FY2025 annual result came in at $3.0 billion, up 9.52% from the prior year.
• Cost of Revenue improved to $1.0 billion in Q2 2026 per NDAQ's latest filing, from $730.0 million in the prior quarter.
• Over five years, Cost of Revenue peaked at $1.0 billion in Q2 2026 and troughed at $508.0 million in Q2 2023.
• A 5-year average of $686.2 million and a median of $663.0 million in 2022 frame the typical range for Cost of Revenue.
• The sharpest annual moves came in 2023 and 2025: Cost of Revenue dropped 23.39% in 2023, then soared 54.22% in 2025.
• Over 5 years, Cost of Revenue stood at $675.0 million in 2022, then fell by 21.48% to $530.0 million in 2023, then soared by 51.51% to $803.0 million in 2024, then decreased by 8.84% to $732.0 million in 2025, then soared by 40.98% to $1.0 billion in 2026.
• According to Business Quant data, Cost of Revenue over the past three periods registered $1.0 billion, $730.0 million, and $732.0 million for Q2 2026, Q1 2026, and Q4 2025 respectively.