MarketAxess Holdings (MKTX) Tops Q2 EPS by 3c, Slight Revenue Beat

MarketAxess Holdings (NASDAQ: MKTX) reported Q2 EPS of $1.07, $0.03 better than the analyst estimate of $1.04. Revenue for the quarter came in at $107 million versus the consensus estimate of $106.44 million.

Second Quarter Financial Highlights*

• Revenues of $107.0 million, up 11.1%
• Operating income of $52.0 million, up 6.2%
• Expenses of $54.9 million, includes $1.8 million of duplicate occupancy expense
• Diluted EPS of $1.07, up 7.0%
• Trading volume of $420.8 billion, up 16.4%
• Record Open Trading™ volume of $89.5 billion, up 56.7%

"The second quarter results show a solid 16.4% year-over-year increase in total trading volume and record Open Trading™ activity, " noted Rick McVey, Chairman and CEO of MarketAxess. "International client breadth and trading activity continues to improve, led by a 27.0% increase in emerging market trading volume and a 32.3% increase in Eurobond volume. We are seeing rapid growth in trading automation in credit, driving improved trading efficiency and lower trading costs for our dealer and investor clients."

For earnings history and earnings-related data on MarketAxess Holdings (MKTX) click here.

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