Item 2.02 - Results of Operations and Financial Condition: Filing reports financial results and operational performance information for Nasdaq, Inc. Item 7.01 - Regulation FD Disclosure: Company is making selective disclosures of material information to investors in compliance with Regulation Fair Disclosure requirements. Item 8.01 - Other Events: Filing includes disclosure of other events deemed…

Our analysis rates this filing BULLISH. Nasdaq's Q4 2025 and full-year 2025 earnings release demonstrates exceptional financial performance across all material dimensions. Revenue growth of 13% is substantial and consistent, while earnings growth of 24-60% (depending on GAAP vs. Non-GAAP measure)…

Concern level: LOW (1.2/10).

Notable risk changes: Strong financial performance: Net revenue of $5.2B in 2025 (13% YoY growth), exceeding $4.0B in Solutions revenue; Robust earnings growth: GAAP diluted EPS increased 60% in 2025; Non-GAAP diluted EPS increased 24% YoY; Shareholder returns: Returned $439M in Q4 2025 ($153M dividends + $286M share repurchases) plus $100M debt repayment.

The model predicts NDAQ will underperform the S&P 500 by about 0.0% over 30 days (model confidence 50%). This is model analysis for research, not investment advice.