Nasdaq annual operating expenses
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Nasdaq Operating Expenses Growth & History (NDAQ)
Nasdaq's operating expenses was $2.92B for fiscal 2025.
View full Nasdaq company overviewNasdaq annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $2.92B | $67.0M | +2.35% |
| 2024 | 2024-12-31 | $2.85B | $534.0M | +23.05% |
| 2023 | 2023-12-31 | $2.32B | $299.0M | +14.82% |
| 2022 | 2022-12-31 | $2.02B | $39.0M | +1.97% |
| 2021 | 2021-12-31 | $1.98B | $310.0M | +18.57% |
| 2020 | 2020-12-31 | $1.67B | $151.0M | +9.95% |
| 2019 | 2019-12-31 | $1.52B | $20.0M | +1.34% |
| 2018 | 2018-12-31 | $1.50B | $78.0M | +5.49% |
| 2017 | 2017-12-31 | $1.42B | −$20.0M | −1.39% |
| 2016 | 2016-12-31 | $1.44B | $70.0M | +5.11% |
| 2015 | 2015-12-31 | $1.37B | $57.0M | +4.34% |
| 2014 | 2014-12-31 | $1.31B | $106.0M | +8.78% |
| 2013 | 2013-12-31 | $1.21B | $223.0M | +22.66% |
| 2012 | 2012-12-31 | $984.0M | −$10.0M | −1.01% |
| 2011 | 2011-12-31 | $994.0M | $109.0M | +12.32% |
| 2010 | 2010-12-31 | $885.0M | $35.0M | +4.12% |
| 2009 | 2009-12-31 | $850.0M | $30.0M | +3.66% |
| 2008 | 2008-12-31 | $820.0M | — | — |
Nasdaq quarterly operating expenses
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Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $788.0M | $50.0M | +6.78% |
| Q1 2026 | 2026-03-31 | $750.0M | $60.0M | +8.70% |
| Q4 2025 | 2025-12-31 | $761.0M | $51.0M | +7.18% |
| Q3 2025 | 2025-09-30 | $729.0M | $31.0M | +4.44% |
| Q2 2025 | 2025-06-30 | $738.0M | $2.0M | +0.27% |
| Q1 2025 | 2025-03-31 | $690.0M | −$17.0M | −2.40% |
| Q4 2024 | 2024-12-31 | $710.0M | −$53.0M | −6.95% |
| Q3 2024 | 2024-09-30 | $698.0M | $189.0M | +37.13% |
| Q2 2024 | 2024-06-30 | $736.0M | $193.0M | +35.54% |
| Q1 2024 | 2024-03-31 | $707.0M | $205.0M | +40.84% |
| Q4 2023 | 2023-12-31 | $763.0M | $205.0M | +36.74% |
| Q3 2023 | 2023-09-30 | $509.0M | $17.0M | +3.46% |
| Q2 2023 | 2023-06-30 | $543.0M | $62.0M | +12.89% |
| Q1 2023 | 2023-03-31 | $502.0M | $15.0M | +3.08% |
| Q4 2022 | 2022-12-31 | $558.0M | $17.0M | +3.14% |
| Q3 2022 | 2022-09-30 | $492.0M | $10.0M | +2.07% |
| Q2 2022 | 2022-06-30 | $481.0M | $11.0M | +2.34% |
| Q1 2022 | 2022-03-31 | $487.0M | $1.0M | +0.21% |
| Q4 2021 | 2021-12-31 | $541.0M | $71.0M | +15.11% |
| Q3 2021 | 2021-09-30 | $482.0M | $93.0M | +23.91% |
| Q2 2021 | 2021-06-30 | $470.0M | $86.0M | +22.40% |
| Q1 2021 | 2021-03-31 | $486.0M | $60.0M | +14.08% |
| Q4 2020 | 2020-12-31 | $470.0M | $84.0M | +21.76% |
| Q3 2020 | 2020-09-30 | $389.0M | −$17.0M | −4.19% |
| Q2 2020 | 2020-06-30 | $384.0M | $17.0M | +4.63% |
| Q1 2020 | 2020-03-31 | $426.0M | $67.0M | +18.66% |
| Q4 2019 | 2019-12-31 | $386.0M | −$19.0M | −4.69% |
| Q3 2019 | 2019-09-30 | $406.0M | $52.0M | +14.69% |
| Q2 2019 | 2019-06-30 | $367.0M | $21.0M | +6.07% |
| Q1 2019 | 2019-03-31 | $359.0M | −$34.0M | −8.65% |
| Q4 2018 | 2018-12-31 | $405.0M | $15.0M | +3.85% |
| Q3 2018 | 2018-09-30 | $354.0M | $13.0M | +3.81% |
| Q2 2018 | 2018-06-30 | $346.0M | −$8.0M | −2.26% |
| Q1 2018 | 2018-03-31 | $393.0M | $58.0M | +17.31% |
| Q4 2017 | 2017-12-31 | $390.0M | $2.0M | +0.52% |
| Q3 2017 | 2017-09-30 | $341.0M | −$11.0M | −3.13% |
| Q2 2017 | 2017-06-30 | $354.0M | −$31.0M | −8.05% |
| Q1 2017 | 2017-03-31 | $335.0M | $20.0M | +6.35% |
| Q4 2016 | 2016-12-31 | $388.0M | $97.0M | +33.33% |
| Q3 2016 | 2016-09-30 | $352.0M | $54.0M | +18.12% |
| Q2 2016 | 2016-06-30 | $385.0M | $84.0M | +27.91% |
| Q1 2016 | 2016-03-31 | $315.0M | −$165.0M | −34.38% |
| Q4 2015 | 2015-12-31 | $291.0M | −$55.0M | −15.90% |
| Q3 2015 | 2015-09-30 | $298.0M | $8.0M | +2.76% |
| Q2 2015 | 2015-06-30 | $301.0M | −$31.0M | −9.34% |
| Q1 2015 | 2015-03-31 | $480.0M | $135.0M | +39.13% |
| Q4 2014 | 2014-12-31 | $346.0M | $63.0M | +22.26% |
| Q3 2014 | 2014-09-30 | $290.0M | −$14.0M | −4.61% |
| Q2 2014 | 2014-06-30 | $332.0M | $40.0M | +13.70% |
| Q1 2014 | 2014-03-31 | $345.0M | $17.0M | +5.18% |
| Q4 2013 | 2013-12-31 | $283.0M | $36.0M | +14.57% |
| Q3 2013 | 2013-09-30 | $304.0M | $62.0M | +25.62% |
| Q2 2013 | 2013-06-30 | $292.0M | $40.0M | +15.87% |
| Q1 2013 | 2013-03-31 | $328.0M | $85.0M | +34.98% |
| Q4 2012 | 2012-12-31 | $247.0M | −$19.0M | −7.14% |
| Q3 2012 | 2012-09-30 | $242.0M | $1.0M | +0.41% |
| Q2 2012 | 2012-06-30 | $252.0M | −$5.0M | −1.95% |
| Q1 2012 | 2012-03-31 | $243.0M | $13.0M | +5.65% |
| Q4 2011 | 2011-12-31 | $266.0M | $47.0M | +21.46% |
| Q3 2011 | 2011-09-30 | $241.0M | $34.0M | +16.43% |
| Q2 2011 | 2011-06-30 | $257.0M | $46.0M | +21.80% |
| Q1 2011 | 2011-03-31 | $230.0M | −$18.0M | −7.26% |
| Q4 2010 | 2010-12-31 | $219.0M | — | — |
| Q3 2010 | 2010-09-30 | $207.0M | −$11.0M | −5.05% |
| Q2 2010 | 2010-06-30 | $211.0M | $3.0M | +1.44% |
| Q1 2010 | 2010-03-31 | $248.0M | — | — |
| Q3 2009 | 2009-09-30 | $218.0M | — | — |
| Q2 2009 | 2009-06-30 | $208.0M | — | — |
Nasdaq operating expenses trends
Over the last five fiscal years, Nasdaq's operating expenses increased from $1.67B to $2.92B, a change of $1.25B. The latest reported quarter, Q2 2026, shows $788.0M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Nasdaq source filings ↗Community posts
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