Nasdaq (NDAQ) Operating Expenses (2009 - 2026)

Nasdaq has disclosed Operating Expenses across 18 years of filings, most recently posting $750.0 million for Q1 2026.

• Operating Expenses for Q1 2026 came in at $750.0 million, up 8.7% year-over-year; the trailing twelve-month figure through Mar 2026 was $3.0 billion (up 5.15% YoY), and the FY2025 annual result was $2.9 billion, up 2.35% from the prior year.
• Operating Expenses came in at $750.0 million for Q1 2026 at Nasdaq, down from $763.0 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $764.0 million in Q4 2023 to a low of $481.0 million in Q2 2022.
• The 5-year median for Operating Expenses is $698.0 million (2024), against an average of $638.6 million.
• Peak annual rise in Operating Expenses reached 40.84% in 2024, while the deepest fall reached 7.07% in 2024.
• Nasdaq's Operating Expenses stood at $558.0 million in 2022, then surged by 36.92% to $764.0 million in 2023, then dropped by 7.07% to $710.0 million in 2024, then climbed by 7.46% to $763.0 million in 2025, then declined by 1.7% to $750.0 million in 2026.
• The last three Operating Expenses figures came in at $750.0 million (Q1 2026), $763.0 million (Q4 2025), and $729.0 million (Q3 2025), per Business Quant data.