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Sep 30, 2024
MarketAxess Q3 2024 Earnings Report
MarketAxess demonstrated strong financial performance, driven by revenue growth and increased trading volumes.
Key Takeaways
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.
Total revenues increased by 20% to $206.7 million.
Diluted earnings per share increased by 30% to $1.90.
Total credit ADV increased by 27% year-over-year.
Record portfolio trading ADV of $1.1 billion was achieved.
MarketAxess
MarketAxess
MarketAxess Revenue by Segment
Revenue by Segment
Commission Revenue
CapyFin.comInformation Services Revenue
CapyFin.comPost-Trade Services Revenue
CapyFin.com Forward Guidance
MarketAxess is well-positioned for continued growth, focusing on expanding its international client base, enhancing trading solutions, and leveraging a constructive market environment.
Positive Outlook
- Initial roll-out of X-Pro to international client base is underway.
- Market share gains in U.S. credit portfolio trading compared to Q2 2024.
- Record 74% of portfolio trading volume was executed on X-Pro in September.
- Launch of targeted block trading solutions to minimize market impact.
- Enhancing dealer liquidity solutions by extending automation services.
Challenges Ahead
- No specific negatives were found in the provided document.
Revenue & Expenses
Visualization of income flow from segment revenue to net income