For the quarter ended December 2023, MarketAxess (MKTX - Free Report) reported revenue of $197.25 million, up 10.9% over the same period last year. EPS came in at $1.84, compared to $1.58 in the year-ago quarter.
The reported revenue represents a surprise of +0.71% over the Zacks Consensus Estimate of $195.85 million. With the consensus EPS estimate being $1.72, the EPS surprise was +6.98%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MarketAxess performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Variable Transaction Fee Per Million - Rates: $4.62 versus the five-analyst average estimate of $4.39.
- Average Variable Transaction Fee Per Million - Credit: $156.28 versus $157.75 estimated by five analysts on average.
- Average Daily Volume - Total rates trading: $16.53 billion versus $16.75 billion estimated by four analysts on average.
- Average Daily Volume - Total credit trading: $13.11 billion versus $12.93 billion estimated by four analysts on average.
- Revenues- Commissions: $171.89 million compared to the $170.78 million average estimate based on six analysts. The reported number represents a change of +8.5% year over year.
- Revenues- Information services: $11.92 million versus the six-analyst average estimate of $11.91 million. The reported number represents a year-over-year change of +14.6%.
- Revenues- Technology services: $2.49 million versus $2.53 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +937.5% change.
- Revenues- Post-trade services: $10.95 million versus $9.71 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +24.1% change.
- Total commission revenue- Total variable transaction fees- Credit: $127.28 million versus $126.67 million estimated by four analysts on average.
- Total commission revenue- Total fixed distribution fees: $34.89 million versus the four-analyst average estimate of $37.64 million. The reported number represents a year-over-year change of +6.1%.
- Total commission revenue- Total variable transaction fees: $137 million versus the four-analyst average estimate of $134.05 million. The reported number represents a year-over-year change of +9.1%.
- Total commission revenue- Total variable transaction fees- Rates: $4.74 million versus $4.75 million estimated by four analysts on average.
View all Key Company Metrics for MarketAxess here>>>Shares of MarketAxess have returned -4.2% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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For the quarter ended December 2023, MarketAxess (MKTX - Free Report) reported revenue of $197.25 million, up 10.9% over the same period last year. EPS came in at $1.84, compared to $1.58 in the year-ago quarter.
The reported revenue represents a surprise of +0.71% over the Zacks Consensus Estimate of $195.85 million. With the consensus EPS estimate being $1.72, the EPS surprise was +6.98%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MarketAxess performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Variable Transaction Fee Per Million - Rates: $4.62 versus the five-analyst average estimate of $4.39.
- Average Variable Transaction Fee Per Million - Credit: $156.28 versus $157.75 estimated by five analysts on average.
- Average Daily Volume - Total rates trading: $16.53 billion versus $16.75 billion estimated by four analysts on average.
- Average Daily Volume - Total credit trading: $13.11 billion versus $12.93 billion estimated by four analysts on average.
- Revenues- Commissions: $171.89 million compared to the $170.78 million average estimate based on six analysts. The reported number represents a change of +8.5% year over year.
- Revenues- Information services: $11.92 million versus the six-analyst average estimate of $11.91 million. The reported number represents a year-over-year change of +14.6%.
- Revenues- Technology services: $2.49 million versus $2.53 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +937.5% change.
- Revenues- Post-trade services: $10.95 million versus $9.71 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +24.1% change.
- Total commission revenue- Total variable transaction fees- Credit: $127.28 million versus $126.67 million estimated by four analysts on average.
- Total commission revenue- Total fixed distribution fees: $34.89 million versus the four-analyst average estimate of $37.64 million. The reported number represents a year-over-year change of +6.1%.
- Total commission revenue- Total variable transaction fees: $137 million versus the four-analyst average estimate of $134.05 million. The reported number represents a year-over-year change of +9.1%.
- Total commission revenue- Total variable transaction fees- Rates: $4.74 million versus $4.75 million estimated by four analysts on average.
View all Key Company Metrics for MarketAxess here>>>Shares of MarketAxess have returned -4.2% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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