02:49 PM EDT, 10/09/2025 (MT Newswires) -- Nasdaq (NDAQ) is expected to post a "solid" beat when it reports Q3 results, aided by "robust" index growth and momentum in the Market Services business, RBC Capital said in a Thursday note.

RBC said for Q3 it is modeling total revenue growth of about 11.1% to $1.31 billion and earnings per share of $0.86, which is above the consensus of $1.30 billion and $0.84, respectively.

RBC said it expects Nasdaq's FinTech to post total revenue growth of 11.1% in Q3, while its Financial Crime vertical is expected to show revenue growth of 21% as the business benefits from strength in small and medium-sized businesses.

Nasdaq's Regulatory Tech is forecast to show revenue growing about 6.9% in Q3 as the company sees some uncertainty around legislation requirements, which in turn is delaying client decisions and potentially impacting annual recurring revenue growth, RBC said.

Annual recurring revenue growth for the company's Capital Access Platform should remain steady at 6% in Q3, on account of "strong" performance in Data and Listings, the analysts said.

The company is due to report Q3 results on Oct. 21.

The firm maintained an outperform rating on Nasdaq with a $108 price target.

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