# Nasdaq, Inc. (NDAQ) FY2025 Annual P&L / Income Statement

- Company: Nasdaq, Inc. (NDAQ)
- Period: 2025-01-01 to 2025-12-31
- Filing: FY2025 10-K, filed 2026-02-12, accession number 0001628280-26-007703
- Page: https://plicit.ai/financials/ndaq/fy2025-annual-income-statement
- Chart image: https://plicit.ai/charts/ndaq-fy2025-annual-income-statement-sankey.png

## Chart details: Revenue by Geography

Income statement for 2025-01-01 through 2025-12-31. View: Geography. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Total revenues**: 8,262,000,000 US dollars
- **Transaction-based expenses**: 3,013,000,000 US dollars
- **Revenues less transaction-based expenses**: 5,249,000,000 US dollars
- **Total operating expenses**: 2,918,000,000 US dollars
- **Operating income**: 2,331,000,000 US dollars
- **Other income (expense), net (calculated)**: negative 186,000,000 US dollars
- **Income before income taxes**: 2,145,000,000 US dollars
- **Income tax provision**: 358,000,000 US dollars
- **Net income**: 1,787,000,000 US dollars
- **UNITED STATES**: 5,947,000,000 US dollars
- **All other countries**: 2,315,000,000 US dollars
- **Compensation and benefits**: 1,392,000,000 US dollars
- **Professional and contract services**: 160,000,000 US dollars
- **Technology and communication infrastructure**: 316,000,000 US dollars
- **Occupancy**: 124,000,000 US dollars
- **General, administrative and other**: 75,000,000 US dollars
- **Marketing and advertising**: 65,000,000 US dollars
- **Depreciation and amortization**: 632,000,000 US dollars
- **Regulatory**: 52,000,000 US dollars
- **Merger and strategic initiatives**: 60,000,000 US dollars
- **Restructuring charges**: 42,000,000 US dollars

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Of which attributable to Nasdaq, Inc.: $1.79 B; to noncontrolling interests: −$1.00 M.