MarketAxess Q2 2024 Earnings Report
Key Takeaways
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.
Total revenues increased by 10% to $197.7 million, including $7.9 million from Pragma.
Services revenue grew by 22% to $26.0 million, driven by record information services revenue and $2.9 million from Pragma.
Diluted earnings per share increased to $1.72 on net income of $64.9 million.
The Board of Directors increased the share repurchase authorization to $250 million.
MarketAxess
MarketAxess
MarketAxess Revenue by Segment
Forward Guidance
The international roll-out of X-Pro and the launch of the next phase of our high-touch strategy is expected to occur late in the third quarter and will include initial elements of AI dealer select functionality.
Revenue & Expenses
Visualization of income flow from segment revenue to net income