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Mar 31, 2024
MarketAxess Q1 2024 Earnings Report
MarketAxess's financial performance in Q1 2024 reflected revenue growth, driven by strong performance in U.S. high-grade and record revenues in emerging markets, Eurobonds, and municipal bonds, which was partially offset by a decrease in U.S. high-yield trading activity.
Key Takeaways
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.
Total revenues increased by 3.5% to $210.3 million, which includes Pragma revenues of $7.5 million.
Diluted earnings per share (EPS) reached $1.92, with a net income of $72.6 million.
Information services revenue increased by 7.9% to $11.9 million, and post-trade revenue increased by 7.5% to $10.7 million.
International products saw a 14.8% increase in average daily volume (ADV), and portfolio trading volume increased by 40.6%.
Revenue by Segment
Forward Guidance
MarketAxess reconfirmed its full-year 2024 guidance for revenue from Pragma, expenses, effective tax rate, and capital expenditures. Operating expenses for the full year are tracking to the low-end of the previously stated guidance range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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