The latest quarter of 2023, as well as the whole financial year for Nasdaq, Inc., shows how strong it is even in the humble economic climate.
The giant financial company recorded a growing pattern of net revenues, peaking at $3.9 billion for the year 2023. This can be attributed to a remarkable 9% growth from the previous year. Natural growth was estimated at 5% of this increase. The fourth quarter of 2023 was also remarkable considering that net revenues rose by a whopping 23 percent to $1.1 billion in comparison to the same period in the previous financial year.
This breakneck revenue growth for Nasdaq was fueled by the miraculous performance within its Solutions division. In this sector, the revenue grew by 13% from the previous year, giving an organic growth rate of 7%. The peak performance of this trajectory was seen during the fourth quarter, whereby Solutions division revenues grew by 32%, while organic contributions rose by 9%.
Adena Friedman, CEO and Chair statement
“We delivered another strong year of operating performance in a dynamic economic and capital markets backdrop. We executed well across our business in 2023, maintaining our listings leadership in the U.S., achieving a breakthrough year for Verafin in our strategy to move upmarket, and introducing new innovations across our products and services.”
Adena Friedman, CEO