Nasdaq lifts medium-term revenue target for key unit on capital access platforms boost

• The solutions business accounts for approximately 76% of Nasdaq's total revenue in 2025 and houses both capital access platforms and financial technology divisions
• Capital access platforms revenue growth outlook increased to 6-10% from the prior 5-8% target, reflecting a three-to-five year period under stable market conditions
• Nasdaq plans to expand client and geographic reach while accelerating AI deployment and modernization of market infrastructure

Summary

Nasdaq Raises Revenue Forecast for Solutions Division

Nasdaq has increased its medium-term revenue growth target for its Solutions business to 9-12%, up from the previous 8-11% projection. The upgrade, announced February 25 ahead of the company's biennial investor day in New York, is driven by stronger performance expectations in its Capital Access Platforms division.

Key Financial Details:

• The Solutions business accounts for approximately 76% of Nasdaq's total 2025 revenue
• Capital Access Platforms revenue growth target raised to 6-10%, from 5-8% previously
• The outlook covers a three-to-five-year period and assumes stable market conditions

Business Focus:

The Capital Access Platforms division encompasses Nasdaq's data, listing, and index businesses—core revenue drivers for the exchange operator. CFO Sarah Youngwood attributed the improved outlook to "the durability of Nasdaq's solutions-led growth" and "the strength of client demand."

Strategic Priorities:

Nasdaq outlined plans to expand through:

• Broadening client and geographic reach
• Accelerating AI deployment
• Modernizing market infrastructure

Market Implications:

The raised guidance signals confidence in Nasdaq's core business segments amid strong institutional demand for market data and listing services. The transatlantic exchange operator's focus on technology modernization and AI integration positions it to capitalize on evolving capital markets infrastructure needs. The upgraded forecast suggests resilient revenue streams in its dominant Solutions segment, which management expects will continue driving growth despite broader market uncertainties.