Tradeweb Markets (NASDAQ: TW) reported Q3 EPS of $0.87, $0.03 better than the analyst estimate of $0.84. Revenue for the quarter came in at $508.6 million versus the consensus estimate of $513.04 million.

Updated Full-Year 2025 Guidance*

• Adjusted Expenses: $1,000 - 1,025 million
• 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: ~$92 million for the year ended December 31, 2025, including ~$22 million for 4Q25

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