Core Viewpoint - Nasdaq, Inc. is expected to report first-quarter 2025 earnings on April 24, with a consensus estimate of 77 cents per share, reflecting a 22.2% year-over-year increase, driven by various factors including organic revenue growth and acquisitions [1][7]. Factors to Consider - Continued organic revenue growth, new sales, and increased revenues from Financial Crime Management Technology and the Adenza acquisition are anticipated to positively impact Nasdaq's fourth-quarter performance [2]. - Non-trading revenues are expected to benefit from improved results in Capital Access Platforms, Financial Technology, and Market Services businesses [2]. Financial Crime Management Technology - Higher value contracts, new sales, price increases for existing clients, and new customer acquisitions, especially from small and medium-sized businesses, are likely to support the Financial Crime Management Technology business [3]. Capital Markets Technology - The inclusion of revenues from Calypso due to the Adenza acquisition, along with higher trade management services revenues and market technology license and support revenues, is expected to boost the Capital Markets Technology business, with revenues projected to increase by 9% to $259.4 million [4]. Capital Access Platforms - Factors such as increased data usage, price hikes on regulated data, higher initial listing fees, new data sales, and growth in trading volume on futures contracts linked to the Nasdaq-100 Index are expected to enhance performance in the Capital Access Platforms division. The revenue estimate for this division is $1.23 billion, indicating a 10.2% increase year-over-year [5]. Expenses - Total expenses for the upcoming quarter are expected to rise due to increased compensation and benefits, professional services, technology infrastructure, and other operational costs, with non-GAAP operating expenses projected to increase by 9.2% year-over-year [6]. Volumes - Nasdaq reported a 21% year-over-year increase in U.S. equity options volume to 935 million contracts, while European options and futures volume rose by 4.6% to 15.9 million contracts. U.S. matched equity volume reached 137.5 billion shares, up 17.8% from the previous year [8][9]. Revenue Estimates - Data and listing services revenues are expected to increase by 5.8% to $196.8 million in the upcoming quarter [10]. Earnings Prediction - Nasdaq has a positive Earnings ESP of +1.32%, indicating a potential earnings beat, supported by a Zacks Rank of 3 [11][12].