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Nasdaq (NDAQ) Q3 FY2021 earnings: revenue $1.4 billion, down 4.0% on the year

Nasdaq, Inc. (NDAQ) reported revenue of $1.4 billion for Q3 FY2021, the quarter ended 30 September 2021, down 4.0% on the same quarter a year earlier. Net income was $288 million, up 9.1% on the year, and diluted earnings per share $0.56. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2021.

Revenue$1.4 billiondown 4.0%
Net income$288 millionup 9.1%
Diluted EPS$0.56
QuarterQ3 FY2021ended 30 September 2021

The quarter, against the one before and a year earlier

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Revenue1,357n/an/an/a
Cost of revenue519n/an/an/a
Gross profit838n/an/an/a
Gross margin61.8%n/an/a
Operating income356n/an/an/a
Operating margin26.2%n/an/a
Interest expense33.0n/an/an/a
Pre-tax income371n/an/an/a
Income tax83.0n/an/an/a
Effective tax rate22.4%n/an/a
Net income288n/an/an/a
Net margin21.2%n/an/a
Diluted EPS$0.56n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Operating cash flow232n/an/an/a
Capital expenditure32.0n/an/an/a
Free cash flow200n/an/an/a
Free cash flow margin14.7%n/an/a
Cash from investing-5.0n/an/an/a
Cash from financing-321n/an/an/a
Depreciation and amortisation67.0n/an/an/a
Share-based compensation23.0n/an/an/a
Dividends paid91.0n/an/an/a
Dividend per share$0.18n/an/an/a
Diluted shares, weighted511mn/an/an/a
Shares outstanding at period end502mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Shareholders' equity6,345n/an/an/a
Non-controlling interest10.0n/an/an/a
Debt5,927n/an/an/a
Operating lease liabilities398n/an/an/a
Other liabilities5,717n/an/an/a
Total liabilities and equity18,397n/an/an/a
Fixed assets495n/an/an/a
Goodwill8,510n/an/an/a
Intangible assets2,885n/an/an/a
Cash and equivalents303n/an/an/a
Receivables552n/an/an/a
Other assets5,652n/an/an/a
Total assets18,397n/an/an/a

Questions

What was Nasdaq's revenue in Q3 FY2021?

Nasdaq (NDAQ) reported revenue of $1.4 billion for Q3 FY2021, the quarter ended 30 September 2021, down 4.0% on the same quarter a year earlier.

How much did Nasdaq earn in Q3 FY2021?

Net income for Q3 FY2021 was $288 million, up 9.1% on the year, and diluted earnings per share $0.56.

When did Nasdaq report Q3 FY2021 results?

Nasdaq filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 4 November 2021.

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025 †Q2 FY2025 †Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,3571,4651,5351,5521,5571,5821,5331,4331,4511,6471,6741,7921,9022,0322,0962,1011,9582,1242,1372,532
Cost of revenue5195806436596676756195085115315576337568058597956437337301,032
Gross profit8388858928938909079149259401,1161,1171,1591,1461,2271,2371,3061,3151,3911,4071,500
Gross margin62%60%58%58%57%57%60%65%65%68%67%65%60%60%59%62%67%65%66%59%
Operating income356344405412398349412382431353410423448517547568586630657712
Operating margin26%23%26%27%26%22%27%27%30%21%24%24%24%25%26%27%30%30%31%28%
Interest expense33.030.032.032.032.033.036.036.010111110810210210296.095.087.089.087.086.0
Pre-tax income371314374397382322396337391277312341356440488548529580677653
Tax rate22%17%24%23%23%26%24%21%25%30%25%35%14%19%19%18%20%11%23%22%
Net income288260284307294240302267294196234222306355395452423518519507
Net margin21%18%19%20%19%15%20%19%20%12%14%12%16%17%19%22%22%24%24%20%
Diluted EPS$0.56$0.51$0.57$0.62$0.59$0.48$0.61$0.54$0.60$0.36$0.40$0.38$0.53$0.61$0.68$0.78$0.73$0.90$0.91$0.89
Operating cash flow232384605375232494565414300417530460244705663746221625689711
Capital expenditure32.050.035.042.041.034.040.039.037.042.039.052.056.060.049.059.069.089.060.077.0
Free cash flow200334570333191460525375263375491408188645614687152536629634
Buybacksn/an/an/an/an/an/a1590.00.01100.058.087.00.0115100115286548355
Dividends paid91.090.089.097.099.098.098.0108108127127138138138138155155153153174
Shares outstanding502m500m493m491m491m492m490m491m491m575m576m576m575m575m574m574m573m570m565m562m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2021, filed 4 November 2021: the filing.