MarketAxess Earnings Reports

MarketAxess posted total revenue of $208.8 million and net income of $68.2 million in Q3 2025. Trading volumes improved across most credit products, with record portfolio and high-yield volumes. Despite macro pressures in U.S. credit, the company saw continued growth in emerging markets and eurobonds, driven by client adoption of new trading protocols.

MarketAxess delivered a strong second quarter in 2025, achieving record total revenues of $219.5 million, an 11% increase year-over-year. This growth was primarily fueled by a 12% rise in total commission revenue and a 7% increase in services revenue. The company also saw significant operational achievements, including record average daily volumes in portfolio trading, U.S. credit block trading, emerging markets, and eurobonds, demonstrating successful progress with new strategic initiatives.

MarketAxess posted total revenue of $208.6 million and adjusted EPS of $1.87 for Q1 2025. GAAP net income plummeted due to a $54.9 million tax reserve, but operational performance remained resilient with record trading volumes across key segments.

MarketAxess reported a 3% increase in total revenues, reaching $202.4 million, and EPS of $1.73 for Q4 2024. The company saw significant growth in rates commission revenue, up 53%, and emerging markets and Eurobonds commission revenue, up 15%.

MarketAxess reported a 20% increase in total revenues to $206.7 million for Q3 2024, driven by strong growth in total credit average daily volume (ADV) and record portfolio trading ADV. The company's diluted earnings per share increased by 30% to $1.90, and net income rose to $71.5 million.

MarketAxess reported a 10% increase in total revenues, reaching $197.7 million, driven by growth in total credit average daily volume (ADV) and revenues from Pragma. The company's diluted earnings per share increased to $1.72, and the board increased the share repurchase authorization to $250 million.

MarketAxess reported a 3.5% increase in total revenues to $210.3 million in Q1 2024. Diluted EPS was $1.92 on a net income of $72.6 million. The company saw strong growth in U.S. high-grade commission revenue and record revenues from emerging markets, Eurobonds and municipal bonds.

MarketAxess reported a 10.9% increase in total revenues, reaching $197.2 million, driven by strong growth in information services and post-trade revenue. Diluted EPS increased by 16.5% to $1.84. The company saw record automated and algorithmic trading volume and expanded its client base.

MarketAxess reported total revenues of $172.3 million, consistent with the prior year, while diluted EPS reached $1.46 on a net income of $54.9 million, with record information services revenue of $11.8 million, marking a 21.5% increase.

MarketAxess reported a slight decrease in total revenues but demonstrated growth in key areas such as emerging markets and Eurobonds. The company continued to invest in technology and expand its client network, driving automation and data solutions. Despite lower credit spread volatility, MarketAxess achieved record market share in several segments and maintained a strong financial position.

MarketAxess reported record revenues of $203.2 million in Q1 2023, a 9% increase year-over-year. The growth was driven by record total credit revenue, a 14% increase in total credit average daily volume, and record information services revenue. The company also saw strong market share gains across various products.

MarketAxess reported an 8% increase in revenues to $177.9 million for Q4 2022. Diluted EPS increased by 15% to $1.58, and operating income rose by 7% to $77.7 million. The company achieved record market share across several product areas and a 24% growth in total credit average daily volume.

MarketAxess reported revenues of $172.1 million, up 6%, and diluted EPS of $1.58, up 4%. The company saw record levels of estimated market share and strong growth in trading volume, driven by Open Trading liquidity.

MarketAxess reported a 3% increase in revenues to $182.2 million, driven by record levels of estimated market share and strong growth in trading volume. Diluted EPS was $1.78, and total trading average daily volume reached $35.4 billion, up 43%. The company saw record estimated market share across various sectors, including U.S. high-yield, emerging markets, Eurobonds, and U.S. Treasuries.

MarketAxess reported revenues of $186.1 million, the second highest quarterly revenue level, with a diluted EPS of $1.71. The company saw record total trading average daily volume of $37.5 billion, driven by record U.S. Treasury ADV of $25.1 billion. The company reconfirms full-year 2022 effective tax rate guidance range of 24.0% to 26.0%.

MarketAxess reported a decrease in fourth-quarter revenue by 3.7% to $165.1 million, and a decrease in operating income by 20.8% to $72.6 million, compared to Q4 2020. Diluted EPS also decreased by 28% to $1.37. However, the company saw record Eurobond market share and active total client firms.