MarketAxess Holdings (MKTX) Tops Q3 EPS by 6c, Revs Fall 1% and Miss Street

MarketAxess Holdings (NASDAQ: MKTX) reported Q3 EPS of $1.52, $0.06 better than the analyst estimate of $1.46. Revenue for the quarter fell 1% to $162.1 million versus the consensus estimate of $165.73 million.

"Growth in our global client network and adoption of automated solutions continued in the third quarter in spite of generally weak secondary trading conditions in global credit trading. Credit spreads and credit spread volatility have remained at historically low levels throughout the year," said Rick McVey, chairman and CEO of MarketAxess. "Investments in our international client business are paying off with record estimated market share in Eurobonds and strong trends in global Emerging Markets bond trading. Combined data and post-trade revenue also reached a new record this quarter, providing an important source of diversification."

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

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