Core Viewpoint - Nasdaq's Q4 2024 earnings report showed adjusted earnings per share of 76 cents, surpassing estimates and reflecting a 5% year-over-year improvement driven by higher revenues and reduced expenses [2][3]. Financial Performance - Nasdaq's net revenues reached $1.2 billion, a 10% increase year-over-year, although it slightly missed the Zacks Consensus Estimate by 0.1% [3]. - Annualized Recurring Revenue (ARR) grew by 7% year-over-year, while Annualized SaaS revenues increased by 14%, accounting for 37% of ARR [3]. - Market Services net revenues were $268 million, up 8%, primarily due to increases in U.S. equity derivatives and cash equities [4]. - Solutions business revenues rose 10% year-over-year to $949 million, driven by strong growth in Index and Financial Technology [4]. Expense Management - Adjusted operating expenses were $710 million, down 7% from the previous year, attributed to lower merger costs and administrative expenses, despite some increases due to the acquisition of Adenza [5]. - The operating margin remained flat at 55% year-over-year [6]. Annual Highlights - For the full year 2024, adjusted earnings per share were $2.82, unchanged from the previous year, but slightly above estimates [7]. - Total net revenues for 2024 were $4.6 billion, a 19% increase year-over-year, with Solutions revenues up 25% [8]. - Market Services net revenues totaled $1 billion, reflecting a 3% increase [8]. Cash Flow and Capital Deployment - As of December 31, 2024, Nasdaq had cash and cash equivalents of $592 million, a 30.6% increase from the end of 2023, while long-term debt decreased by 10.6% to $9.1 billion [10]. - The company returned $138 million to shareholders through dividends in Q4 2024 and repurchased $181 million of senior unsecured notes [11]. Future Guidance - Nasdaq anticipates 2025 non-GAAP operating expenses to be between $2,245 million and $2,325 million, with a non-GAAP tax rate forecasted between 22.5% and 24.5% [12]. Market Sentiment - Estimates for Nasdaq have been trending upward, indicating a positive outlook, with a Zacks Rank of 2 (Buy) suggesting an expectation of above-average returns in the coming months [15].

Core Insights - NetApp reported revenue of $1.64 billion for the quarter ended January 2025, reflecting a year-over-year increase of 2.2% [1] - The earnings per share (EPS) for the quarter was $1.91, slightly down from $1.94 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $1.69 billion, resulting in a surprise of -3.09% [1] - The company met the consensus EPS estimate of $1.91, indicating no surprise in earnings [1] Key Performance Metrics - Gross margin for Product (Non-GAAP) was 56.7%, below the average estimate of 59.5% from eight analysts [4] - Total revenue growth was 2%, compared to the average estimate of 5.2% from seven analysts [4] - Gross margin for Services (Non-GAAP) was 82.8%, slightly above the average estimate of 82.2% from seven analysts [4] - Geographic revenue mix showed EMEA at 34%, Americas at 51%, and Asia Pacific at 15%, all in line with analyst estimates [4] - Net revenues from Services were $883 million, below the estimated $900.11 million, but represented a year-over-year increase of 2.8% [4] - Net revenues from Product were $758 million, compared to the estimated $793.22 million, with a year-over-year increase of 4.7% [4] - Public Cloud revenues reached $174 million, exceeding the estimate of $173.43 million, with a year-over-year growth of 15.2% [4] - Hybrid Cloud revenues were $1.47 billion, below the estimated $1.52 billion, with a year-over-year increase of 0.8% [4] - Support revenues were $621 million, below the estimated $642.46 million, reflecting a year-over-year decline of 1.6% [4] - Professional and Other Services revenues were $88 million, slightly above the estimated $87.02 million, with a year-over-year increase of 14.3% [4] Stock Performance - NetApp shares have returned +3.5% over the past month, outperforming the Zacks S&P 500 composite, which declined by -2.2% [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [3]