MarketAxess Holdings (NASDAQ: MKTX) reported Q4 EPS of $1.91, $0.08 better than the analyst estimate of $1.83. Revenue for the quarter came in at $171.3 million versus the consensus estimate of $168.62 million.

Guidance for 2021:

For 2021, the Company is providing the following guidance:

• Expenses are expected to be in the range of $362.0 million to $382.0 million and includes a full year of Regulatory Reporting Services expenses estimated to range between $15.0 million to $18.0 million. In addition to ongoing operating expenses, the 2021 acquisition expenses include estimated amortization expense on acquired intangible assets of $5.0 million and non-recurring integration costs of $5.0 million. Excluding the expenses related to Regulatory Reporting Hub, the midpoint in the guidance range on a constant currency basis would represent an approximate 13.0% year-over-year increase in expenses.
• Capital expenditures are expected to be in the range of $50.0 million to $55.0 million and include an expected increase in capitalized software development to support new protocols, products and platform enhancements.
• The Company’s overall effective tax rate is expected to be between 22.0% to 24.0% and reflects a lower benefit from estimated excess tax benefits on share-based compensation awards.

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