Tradeweb Markets, a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, reported financial results for the quarter ended March 31, 2023.

$329.2 million quarterly revenues increased 5.7% (7.5% on a constant currency basis) compared to prior year period

$1.4 trillion record average daily volume (“ADV”) for the quarter, an increase of 16.2% compared to prior year period, with record ADV in European government bonds, swaps/swaptions ≥ 1-year, fully electronic U.S. High Grade credit, equity convertibles/swaps/options, repurchase agreements, retail U.S. government bonds and retail money markets

$102.2 million net income and $129.0 million adjusted net income for the quarter, increases of 4.9% and 12.2% respectively from prior year period

52.3% adjusted EBITDA margin and $172.2 million adjusted EBITDA for the quarter, compared to 51.6% and $160.6 million respectively for prior year period

$0.42 diluted earnings per share (“Diluted EPS”) for the quarter and $0.54 adjusted diluted earnings per share

$0.09 per share quarterly cash dividend declared; $22.7 million of shares repurchased

Click here to read the full news release.

Source: Tradeweb