NDAQ - Nasdaq beats Q1 top and bottom line estimates; updates FY23 tax and expense guidance
2023-04-19 07:02:50 ET
- Nasdaq press release ( NASDAQ: NDAQ ): Q1 Non-GAAP EPS of $0.69 beats by $0.03 .
- Revenue of $914M (+2.5% Y/Y) beats by $2.4M .
- Annualized Recurring Revenue increased 7% compared to the first quarter of 2022. Annualized SaaS revenues increased 11% and represented 36% of ARR.
- Solutions businesses revenues were $646 million in the first quarter of 2023, an increase of $23 million, or 4%.
- Trading Services net revenues were $267 million in the first quarter of 2023, an increase of $3 million, or 1%.
- Outlook: The company is updating its 2023 non-GAAP operating expense guidance to a range of $1,780 million to $1,840 million (prior $1,770 to $1,850 million). Nasdaq expects its 2023 non-GAAP tax rate to be in the range of 24% to 26% (unchanged from prior).
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Nasdaq beats Q1 top and bottom line estimates; updates FY23 tax and expense guidance