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Mar 31, 2023
Tradeweb Q1 2023 Earnings Report
Tradeweb reported financial results for the quarter ended March 31, 2023.
Key Takeaways
Tradeweb's Q1 2023 results showed strong growth with a 5.7% increase in quarterly revenues to $329.2 million and a record average daily volume of $1.4 trillion, up 16.2% year-over-year. The company reported a net income of $102.2 million and an adjusted net income of $129.0 million, representing increases of 4.9% and 12.2% respectively. Adjusted EBITDA margin was 52.3%, and adjusted diluted EPS was $0.54.
Quarterly revenues increased by 5.7% to $329.2 million.
Record average daily volume (ADV) of $1.4 trillion, up 16.2% year-over-year.
Net income increased by 4.9% to $102.2 million.
Adjusted diluted earnings per share was $0.54.
Revenue by Segment
Forward Guidance
Tradeweb provided full-year 2023 guidance with the following expectations:
Positive Outlook
- Adjusted Expenses: $669 - 714 million
- Acquisition and Refinitiv Transaction related depreciation and amortization expense: $127 million
- Assumed non-GAAP tax rate: ~24% - 25%
- Cash costs of capital expenditures and capitalized software development: $56 - 62 million
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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