Nasdaq Q4 FY25: where the revenue came from and where it went
The whole income statement of Nasdaq for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Oct 1 – Dec 31, 2025
- Reported
- Feb 12, 2026
Revenue$2.11B
+4% year over year
Gross profit$1.39B
66% margin
Operating profit$0.63B
30% margin
Net profit$0.52B
25% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 2.11 | 100% | +4% |
| Cost of revenue | −0.72 | 34% | |
| Gross profit | 1.39 | 66% margin | +6pp |
| G&A | −0.02 | 1% | +0pp |
| Other | −0.74 | 35% | +0pp |
| Operating profit | 0.63 | 30% margin | +4pp |
| Interest & other costs | −0.05 | ||
| Tax | −0.06 | ||
| Net profit | 0.52 | 25% margin | +7pp |
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