MarketAxess Holdings (MKTX) Tops Q3 EPS by 9c

MarketAxess Holdings (NASDAQ: MKTX) reported Q3 EPS of $1.02, $0.09 better than the analyst estimate of $0.93. Revenue for the quarter came in at $101.4 million versus the consensus estimate of $101.06 million.

*All comparisons versus third quarter 2017.

• Revenues of $101.4 million, up 6.1%
• Expenses of $55.0 million, including $1.9 million of duplicate occupancy expense
• Diluted EPS of $1.02, up 13.3%
• Trading volume of $385.5 billion, up 11.2%
• Open Trading™ volume of $88.3 billion, up 58.3%

"Strong market share gains across our core products and increased Open Trading activity led to a solid increase in trading volume in the third quarter in spite of quiet credit trading conditions," said Rick McVey, Chairman and CEO of MarketAxess. "Product diversification is evident in the results with a record 9.2% estimated high-yield market share, 22% year-on-year increase in emerging market trading volume and a 28% increase in Eurobond volumes. We are encouraged by the improvement in market conditions for credit trading that we started to see in September."

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

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