Global exchange operator Nasdaq (NASDAQ:NDAQ) will be announcing earnings results this Thursday before market open. Here’s what to expect.

Nasdaq beat analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $1.32 billion, up 11.4% year on year. It was a satisfactory quarter for the company, with .

Is Nasdaq a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Nasdaq’s revenue to grow 11.9% year on year to $1.37 billion, improving from the 9.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.92 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nasdaq has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Nasdaq’s peers in the capital markets segment, some have already reported their Q4 results, giving us a hint as to what we can expect. FactSet delivered year-on-year revenue growth of 6.9%, beating analysts’ expectations by 1.3%, and Jefferies reported revenues up 5.7%, topping estimates by 3%. FactSet traded down 2.6% following the results while Jefferies was also down 5.6%.

Read our full analysis of FactSet’s results here and Jefferies’s results here.

Investors in the capital markets segment have had steady hands going into earnings, with share prices flat over the last month. Nasdaq’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $109.36 (compared to the current share price of $98.45).

P.S. STOP buying the AI stocks everyone's talking about. The real money? It's in the profitable pick nobody's watching yet. We’ve identified an AI profit machine that’s flying under Wall Street's radar—for now. We can't keep this research public forever—grab your FREE copy before we pull it offline. GO HERE NOW.