Nasdaq (NASDAQ:NDAQ) unveiled its first-quarter financial results for 2024, reporting a robust 22% year-over-year increase in net revenues, reaching $1.1 billion.
This growth was primarily fueled by a 35% surge in revenues from its Solutions segment, which achieved an organic growth rate of 11%.
The company's Annualized Recurring Revenue (ARR) also demonstrated substantial growth, expanding by 29% from the first quarter of the previous year, with organic growth contributing 5%.
Meanwhile, Financial Technology revenues notably increased by 71% compared to the same quarter last year, and Index revenue grew by 53%, with Exchange-Traded Product (ETP) Assets Under Management exceeding $500 billion during the period.
Despite these revenue gains, GAAP diluted earnings per share declined by 34% from the previous year, and non-GAAP diluted earnings per share decreased by 9%.
Intrestingly, Nasdaq continued to prioritize shareholder value, evidenced by the repayment of a significant term loan balance and the declaration of an increased quarterly cash dividend of $0.24 per share.