Global exchange operator Nasdaq (NASDAQ: NDAQ) will be reporting results this Thursday before market open. Here’s what to expect.
Nasdaq beat analysts’ revenue expectations last quarter, reporting revenues of $1.39 billion, up 13.4% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a narrow beat of analysts’ revenue estimates.
Is Nasdaq a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Nasdaq’s revenue to grow 11.5% year on year, in line with the 10.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nasdaq has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Nasdaq’s peers in the capital markets segment, some have already reported their Q1 results, giving us a hint as to what we can expect. MSCI delivered year-on-year revenue growth of 14.1%, beating analysts’ expectations by 1.4%, and FactSet reported revenues up 7.1%, topping estimates by 1.1%. FactSet traded up 9.9% following the results.
Read our full analysis of MSCI’s results here and FactSet’s results here.
There has been positive sentiment among investors in the capital markets segment, with share prices up 11.8% on average over the last month. Nasdaq is up 1.9% during the same time and is heading into earnings with an average analyst price target of $106.07 (compared to the current share price of $88.00).
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