Summary by Moomoo AI
Nasdaq reported Q2 2024 net revenues of $1.2 billion, up 25% YoY and 10% on a pro forma basis. Solutions revenues increased 34% to $901 million, while Annualized Recurring Revenue grew 29% to $2.7 billion. Financial Technology revenues surged 79% to $420 million, and Index revenues rose 29% with $53 billion in net inflows over trailing twelve months.The company demonstrated strong operational performance with a 53% non-GAAP operating margin. GAAP diluted EPS decreased 30% while non-GAAP diluted EPS declined 3% but increased 7% organically. Market Services net revenues grew 3% to $250 million, primarily driven by increases in U.S. and European cash equities trading.During Q2, Nasdaq returned $138 million to shareholders through dividends and $58 million via share repurchases. The Board declared a quarterly dividend of $0.24 per share, payable on September 27, 2024. The company also repaid $174 million of commercial paper, making progress on its deleveraging goals while achieving synergy targets ahead of schedule.
