Q2 2024 Nasdaq Inc Earnings Call Transcript
Key Points
- Nasdaq Inc (NDAQ) reported a strong quarter with $1.2 billion in net revenues, an increase of 10% year over year.
- The company's annualized recurring revenue (ARR) grew 7% to $2.7 billion.
- Nasdaq Inc (NDAQ) achieved a 14% growth in operating income and an operating margin increase to 53%.
- The index business delivered another exceptional quarter with $17 billion of net inflows during the quarter, totaling $53 billion over the last 12 months.
- The financial technology division saw ARR growth of 13%, including 25% in financial crime management technology and 14% in the combined AxiomSL and Calypso solutions.
- The slower IPO environment remains a headwind, despite signs of improvement.
- Growth in data and listings continues to experience challenges due to the impact of prior-year delistings.
- The workflow and insights revenue growth was muted due to continued headwinds in corporate solutions.
- Operating expenses for the quarter increased 7% year over year.
- The market services division experienced a 1-percentage-point decline in operating margin due to continued investments in market modernization and regulatory obligations.
Good day, and thank you for standing by. Welcome to Nasdaq's second-quarter 2024 results conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker, Ato Garrett, Senior Vice President, Investor Relations. Please go ahead.
Good morning, everyone, and thank you for joining us today to discuss Nasdaq's second-quarter 2024 financial results. On the line are Adena Friedman, our Chair and Chief Executive Officer; Sarah Youngwood, our Chief Financial Officer; and other members of the management team.
After prepared remarks, we will open the line for Q&A. The press release and earnings presentation accompanying this call can be found on our Investor Relations website.
I would like to remind you that we will be making forward-looking statements on this call that involve risks. A summary of these risks is contained in our press release and a more complete
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