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Dec 31, 2024
MarketAxess Q4 2024 Earnings Report
MarketAxess experienced revenue growth and strategic advancements.
Key Takeaways
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%.
Total revenues increased by 3% to $202.4 million.
Emerging markets and Eurobonds commission revenue grew by 15%.
Rates commission revenue increased by 53%.
Diluted earnings per share (EPS) reached $1.73.
Revenue by Segment
Forward Guidance
For the full year 2025, MarketAxess expects services revenue to grow in the mid-single digits, expenses to be in the range of $505.0 million to $525.0 million, the effective tax rate to be between 23.5% and 24.5%, and capital expenditures to be in the range of $65.0 million to $70.0 million.
Positive Outlook
- Services revenue (combined Information Services, Post-Trade Services and Technology Services) is expected to grow in the mid-single digits (percent).
- Based on the midpoint of the stated guidance range, total expenses are expected to increase by approximately 8%.
- The effective tax rate is expected to be between 23.5% and 24.5%, assuming no material changes in applicable tax laws.
- Capital expenditures to support new protocols, products and trading platform enhancements are expected to be in the range of $65.0 million to $70.0 million.
- Total expenses are expected to be in the range of $505.0 million to $525.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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