Tradeweb Markets (NASDAQ: TW) reported Q2 EPS of $0.87, $0.01 better than the analyst estimate of $0.86. Revenue for the quarter came in at $512.97 million versus the consensus estimate of $513.17 million.

Updated Full-Year 2025 Guidance*

Adjusted Expenses: $1,000 - 1,050 million (trending toward middle of range)
Acquisition and Refinitiv Transaction related depreciation and amortization expense: $176 million
Assumed non-GAAP tax rate: ~24.5% - 25.5%
Cash capital expenditures and capitalized software development: ~$99 - 109 million
LSEG Market Data Contract Revenue: ~$90 million

For earnings history and earnings-related data on Tradeweb Markets (TW) click here.