Demo
MKTX Nasdaq· MarketAxess Holdings Inc
FundamentalsNews digest Peer analysis
Login
MKTX Nasdaq· MarketAxess Holdings Inc
Earnings report Q3 2023

MarketAxess Holdings Inc. Reports Steady Revenue Growth in Latest Quarter

Segments of revenue

MarketAxess Holdings Inc. reported total revenues of $172.3 million for the three months ended September 30, 2023. The breakdown of revenue by segment is as follows:

  • Commissions: $150.5 million
  • Information services: $11.8 million
  • Post-trade services: $9.8 million
  • Other: $0.2 million

Strengths

MarketAxess Holdings Inc. demonstrated steady revenue growth in the latest quarter. Commissions, the largest revenue segment, remained strong at $150.5 million, only slightly lower than the previous quarter. The company also saw an increase in information services revenue, which can be attributed to net new data contract revenue of $1.7 million and the positive impact of foreign currency fluctuations of $0.4 million. This indicates that MarketAxess is successfully expanding its offerings and attracting new clients.

Challenges

Despite the overall positive performance, there are some challenges for MarketAxess Holdings Inc. The company experienced a decrease in trading volumes and average variable transaction fee per million compared to the same period last year. This could be attributed to market conditions and competition, which may have impacted the company's profitability.

Noteworthy

It is worth noting that MarketAxess Holdings Inc. has been affected by economic, political, and market factors, as mentioned in their management's discussion and analysis. These factors can have a significant impact on the company's revenues and profitability.

Summary

MarketAxess Holdings Inc. reported steady revenue growth in the latest quarter, with total revenues of $172.3 million. The company's strengths lie in its strong commissions revenue and the increase in information services revenue. However, challenges include a decrease in trading volumes and average variable transaction fee per million compared to the previous year. MarketAxess Holdings Inc. should continue to focus on expanding its offerings and adapting to market conditions to maintain its growth trajectory.

Source documents

Form 10-Q  filed on Oct 25, 2023
60 pages scanned

Reference data

Company financials Q3 revenue 197M
Analyst estimates Q3 EPS beat by 7.13%
Sign up to Fey

Get in-depth analysis on thousands of stocks for just $30/month. Cancel anytime.