Nasdaq announced an upward revision to its medium-term revenue outlook for its biggest operating division, pointing to robust trends across its capital access platforms businesses.
The company now expects revenue for its solutions business to grow 9% to 12% over the medium term, an increase from its prior target range of 8% to 11%. The upgraded guidance reflects a more favorable view of its capital access platforms unit, which includes the exchange’s data, listing and index offerings.
Executives are scheduled to provide additional detail later in the day at Nasdaq’s biennial investor day in New York, where management will outline how the transatlantic exchange operator intends to expand and scale its operations in the coming years.
The solutions segment accounted for roughly 76% of Nasdaq’s total revenue in 2025 and comprises two primary groups: capital access platforms and financial technology. Within that mix, Nasdaq now anticipates revenue from its capital access platforms to increase 6% to 10% in the medium term, up from a previous projection of 5% to 8% growth.
On the outlook, Chief Financial Officer Sarah Youngwood said: "Our increased outlook reflects the durability of Nasdaq’s solutions-led growth, the strength of client demand," highlighting management’s confidence in ongoing client interest across those product lines.
The revised guidance covers a three-to-five year period and is framed on the assumption of a stable market backdrop. In addition to the numerical uplift, Nasdaq signaled strategic priorities it plans to pursue to support growth, including expanding its client base and geographic footprint, accelerating deployment of artificial intelligence, and modernizing market infrastructure.
Company leadership will use the investor day forum to present how these priorities will be executed and how Nasdaq intends to scale its business across markets and products. Investors and market participants will be watching for further color on execution timelines and the mechanisms Nasdaq plans to use to broaden its reach and technology stack.
Context and next steps
Management’s upgraded guidance and investor day presentation aim to give shareholders a clearer view of growth drivers and operational initiatives over the medium-term planning horizon. The adjustment to the solutions business target and the stronger capital access platforms outlook are the principal numerical changes announced.