Nasdaq Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Quarter	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021	Q4 2020	+20 Quarters
Period Ending	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021	Dec '20 Dec 31, 2020	+20 Quarters
Operating Revenue	8,132	8,075	7,780	7,364	6,983	6,530	6,169	6,025	5,958	6,046	6,171	6,178	6,071	5,886	5,741	5,809	5,835	5,882	5,877	5,582	Upgrade
Other Revenue	36	36	36	36	35	37	39	39	41	59	53	48	40	24	29	77	46	55	46	43	Upgrade
Revenue	8,168	8,111	7,816	7,400	7,018	6,567	6,208	6,064	5,999	6,105	6,224	6,226	6,111	5,910	5,770	5,886	5,881	5,937	5,923	5,625	Upgrade
Revenue Growth (YoY)	16.39%	23.51%	25.90%	22.03%	16.99%	7.57%	-0.26%	-2.60%	-1.83%	3.30%	7.87%	5.78%	3.91%	-0.46%	-2.58%	4.64%	12.49%	20.84%	29.44%	32.10%	Upgrade
Cost of Revenue	3,084	3,196	3,047	2,751	2,478	2,233	2,109	2,169	2,314	2,470	2,620	2,644	2,550	2,402	2,309	2,466	2,559	2,737	2,870	2,722	Upgrade
Gross Profit	5,084	4,915	4,769	4,649	4,540	4,334	4,099	3,895	3,685	3,635	3,604	3,582	3,561	3,508	3,461	3,420	3,322	3,200	3,053	2,903	Upgrade
Selling, General & Admin	2,096	2,046	2,014	2,032	2,021	1,932	1,836	1,732	1,658	1,649	1,637	1,630	1,602	1,590	1,555	1,519	1,493	1,416	1,365	1,356	Upgrade
Operating Expenses	2,720	2,664	2,628	2,645	2,612	2,429	2,245	2,055	1,914	1,909	1,897	1,888	1,878	1,869	1,837	1,797	1,743	1,651	1,582	1,558	Upgrade
Operating Income	2,364	2,251	2,141	2,004	1,928	1,905	1,854	1,840	1,771	1,726	1,707	1,694	1,683	1,639	1,624	1,623	1,579	1,549	1,471	1,345	Upgrade
Interest Expense	-380	-395	-402	-414	-423	-422	-357	-284	-207	-138	-133	-129	-126	-127	-128	-125	-119	-111	-104	-101	Upgrade
Interest & Investment Income	40	40	33	28	49	112	115	115	90	21	13	7	3	1	-	1	1	2	3	4	Upgrade
Earnings From Equity Investments	82	60	40	16	8	-4	-17	-7	-	19	38	31	-15	-17	2	52	63	111	110	70	Upgrade
Other Non Operating Income (Expenses)	-60	-20	-63	-55	-40	-34	-33	-34	-36	-44	-28	-33	-28	17	9	-64	13	-23	-23	-19	Upgrade
EBT Excluding Unusual Items	2,046	1,936	1,749	1,579	1,522	1,557	1,562	1,630	1,618	1,584	1,597	1,570	1,517	1,513	1,507	1,487	1,537	1,528	1,457	1,299	Upgrade
Merger & Restructuring Charges	-105	-115	-145	-151	-255	-243	-243	-228	-156	-150	-102	-97	-58	-57	-78	-118	-134	-134	-117	-81	Upgrade
Gain (Loss) on Sale of Investments	7	11	21	21	15	8	-2	-1	-12	2	2	2	8	-	-	81	-	-	-	-	Upgrade
Gain (Loss) on Sale of Assets	37	-	-	-	-	-	-	-	-	-	-	-	-	-	84	84	84	84	-	-	Upgrade
Asset Writedown	-	-	-	-	5	-	-	-	-5	-	-	-	-	-	-	-	-	-	-	-	Upgrade
Other Unusual Items	19	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6	-6	-6	Upgrade
Pretax Income	2,004	1,832	1,625	1,449	1,287	1,322	1,317	1,401	1,445	1,436	1,497	1,475	1,467	1,456	1,513	1,534	1,487	1,472	1,334	1,212	Upgrade
Income Tax Expense	380	326	348	334	331	377	328	344	344	335	356	352	325	319	341	347	334	344	306	279	Upgrade
Earnings From Continuing Operations	1,624	1,506	1,277	1,115	956	945	989	1,057	1,101	1,101	1,141	1,123	1,142	1,137	1,172	1,187	1,153	1,128	1,028	933	Upgrade
Minority Interest in Earnings	1	2	1	2	3	2	2	2	2	2	2	2	1	1	1	-	-	-	-	-	Upgrade
Net Income	1,625	1,508	1,278	1,117	959	947	991	1,059	1,103	1,103	1,143	1,125	1,143	1,138	1,173	1,187	1,153	1,128	1,028	933	Upgrade
Net Income to Common	1,625	1,508	1,278	1,117	959	947	991	1,059	1,103	1,103	1,143	1,125	1,143	1,138	1,173	1,187	1,153	1,128	1,028	933	Upgrade
Net Income Growth	69.45%	59.24%	28.96%	5.48%	-13.05%	-14.14%	-13.30%	-5.87%	-3.50%	-3.08%	-2.56%	-5.22%	-0.87%	0.89%	14.11%	27.22%	26.56%	41.53%	40.82%	20.54%	Upgrade
Shares Outstanding (Basic)	574	575	575	575	569	548	526	505	491	491	491	492	495	498	498	498	496	493	493	493	Upgrade
Shares Outstanding (Diluted)	579	579	579	579	572	551	529	508	495	495	496	498	501	505	505	505	503	501	501	501	Upgrade
Shares Change (YoY)	1.30%	5.21%	9.45%	13.93%	15.58%	11.18%	6.72%	2.12%	-1.20%	-1.81%	-1.80%	-1.43%	-0.47%	0.66%	0.85%	0.87%	0.58%	0.24%	0.04%	-0.04%	Upgrade
EPS (Basic)	2.83	2.62	2.22	1.94	1.69	1.73	1.88	2.10	2.25	2.25	2.33	2.28	2.31	2.29	2.36	2.38	2.33	2.29	2.08	1.89	Upgrade
EPS (Diluted)	2.80	2.60	2.21	1.93	1.68	1.72	1.88	2.08	2.23	2.23	2.30	2.26	2.28	2.25	2.33	2.35	2.29	2.25	2.05	1.86	Upgrade
EPS Growth	66.50%	51.29%	17.83%	-7.21%	-24.57%	-22.92%	-18.45%	-7.96%	-2.20%	-1.09%	-1.16%	-3.83%	-0.33%	0.22%	13.51%	26.34%	25.66%	41.20%	40.73%	20.52%	Upgrade
Free Cash Flow	-	2,134	1,855	1,732	1,462	1,537	1,504	1,538	1,623	1,551	1,509	1,554	1,428	1,437	1,138	920	961	697	1,062	1,064	Upgrade
Free Cash Flow Per Share	-	3.68	3.20	2.99	2.56	2.79	2.84	3.02	3.28	3.13	3.04	3.12	2.85	2.85	2.25	1.82	1.91	1.39	2.12	2.13	Upgrade
Dividend Per Share	1.020	0.990	0.960	0.940	0.920	0.900	0.880	0.860	0.840	0.820	0.800	0.780	0.760	0.737	0.717	0.700	0.683	0.670	0.653	0.650	Upgrade
Dividend Growth	10.87%	10.00%	9.09%	9.30%	9.52%	9.76%	10.00%	10.26%	10.53%	11.31%	11.62%	11.43%	11.21%	9.96%	9.71%	7.69%	6.78%	5.78%	4.24%	5.40%	Upgrade
Gross Margin	62.24%	60.60%	61.02%	62.82%	64.69%	66.00%	66.03%	64.23%	61.43%	59.54%	57.90%	57.53%	58.27%	59.36%	59.98%	58.10%	56.49%	53.90%	51.54%	51.61%	Upgrade
Operating Margin	28.94%	27.75%	27.39%	27.08%	27.47%	29.01%	29.87%	30.34%	29.52%	28.27%	27.43%	27.21%	27.54%	27.73%	28.15%	27.57%	26.85%	26.09%	24.83%	23.91%	Upgrade
Profit Margin	19.89%	18.59%	16.35%	15.10%	13.66%	14.42%	15.96%	17.46%	18.39%	18.07%	18.36%	18.07%	18.70%	19.25%	20.33%	20.17%	19.61%	19.00%	17.36%	16.59%	Upgrade
Free Cash Flow Margin	-	26.31%	23.73%	23.41%	20.83%	23.41%	24.23%	25.36%	27.05%	25.41%	24.25%	24.96%	23.37%	24.32%	19.72%	15.63%	16.34%	11.74%	17.93%	18.92%	Upgrade
EBITDA	2,988	2,869	2,755	2,617	2,513	2,402	2,263	2,163	2,032	1,986	1,967	1,952	1,959	1,918	1,906	1,901	1,829	1,784	1,688	1,547	Upgrade
EBITDA Margin	36.58%	35.37%	35.25%	35.37%	35.81%	36.58%	36.45%	35.67%	33.87%	32.53%	31.60%	31.35%	32.06%	32.45%	33.03%	32.30%	31.10%	30.05%	28.50%	27.50%	Upgrade
D&A For EBITDA	624	618	614	613	585	497	409	323	261	260	260	258	276	279	282	278	250	235	217	202	Upgrade
EBIT	2,364	2,251	2,141	2,004	1,928	1,905	1,854	1,840	1,771	1,726	1,707	1,694	1,683	1,639	1,624	1,623	1,579	1,549	1,471	1,345	Upgrade
EBIT Margin	28.94%	27.75%	27.39%	27.08%	27.47%	29.01%	29.87%	30.34%	29.52%	28.27%	27.43%	27.21%	27.54%	27.73%	28.15%	27.57%	26.85%	26.09%	24.83%	23.91%	Upgrade
Effective Tax Rate	18.96%	17.79%	21.41%	23.05%	25.72%	28.52%	24.91%	24.55%	23.81%	23.33%	23.78%	23.86%	22.15%	21.91%	22.54%	22.62%	22.46%	23.37%	22.94%	23.02%	Upgrade
Revenue as Reported	8,168	8,111	7,816	7,400	7,018	6,567	6,208	6,064	5,999	6,105	6,224	6,226	6,111	5,910	5,770	5,886	5,881	5,937	5,923	5,625	Upgrade

Updated Oct 21, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q