Tradeweb Markets (TW) Misses Q1 EPS by 1c; Maintains Guidance

Tradeweb Markets (NASDAQ: TW) reported Q1 EPS of $0.48, $0.01 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $311.5 million versus the consensus estimate of $311.67 million.

$1.2 trillion average daily volume (“ADV”) for the quarter, an increase of 10.9% compared to prior year period, with record ADV in U.S. and European government bonds; swaps/swaptions ≥ 1-year; fully electronic U.S. High Grade and fully electronic U.S. High Yield credit; European credit; U.S. and European ETFs; and Repurchase Agreements

GUIDANCE:

Full-Year 2022 guidance is unchanged from prior quarter.

• Adjusted Expenses: $620 - $655 million
• Acquisition and Refinitiv Transaction related depreciation and amortization expense: $127 million
• Assumed non-GAAP tax rate: ~22.0%
• Capital expenditures and capitalization of software development: $62 - $68 million

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

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