We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MarketAxess (MKTX) Reports Q1 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
MarketAxess (MKTX - Free Report) reported $210.32 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 3.5%. EPS of $1.92 for the same period compares to $1.96 a year ago.
The reported revenue represents a surprise of -0.29% over the Zacks Consensus Estimate of $210.94 million. With the consensus EPS estimate being $1.85, the EPS surprise was +3.78%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
Trading Volume - Total credit trading - High-grade: $456 billion compared to the $436.28 billion average estimate based on three analysts.
Average Daily Volume - Total credit trading - Emerging markets: $3.63 billion compared to the $3.35 billion average estimate based on three analysts.
Average Variable Transaction Fee Per Million - Credit: $154.15 versus $155.86 estimated by three analysts on average.
Average Daily Volume - Total credit trading: $14.98 billion versus $14.34 billion estimated by three analysts on average.
Revenues- Information services: $11.88 million versus $12.30 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
Revenues- Commissions: $184.87 million compared to the $185.29 million average estimate based on five analysts. The reported number represents a change of +1.6% year over year.
Revenues- Technology services: $2.83 million versus $2.58 million estimated by five analysts on average.
Revenues- Post-trade services: $10.73 million compared to the $10.85 million average estimate based on five analysts. The reported number represents a change of +7.5% year over year.
Total commission revenue- Total fixed distribution fees- Rates: $0.07 million compared to the $0.07 million average estimate based on three analysts.
Total commission revenue- Total fixed distribution fees- Credit: $33.29 million versus $35.70 million estimated by three analysts on average.
Total commission revenue- Total variable transaction fees- Credit: $141.50 million compared to the $139.78 million average estimate based on three analysts.
Total commission revenue- Total fixed distribution fees: $33.35 million versus the three-analyst average estimate of $35.94 million. The reported number represents a year-over-year change of -4.1%.
Shares of MarketAxess have returned -8.3% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
MarketAxess (MKTX) Reports Q1 Earnings: What Key Metrics Have to Say
MarketAxess (MKTX - Free Report) reported $210.32 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 3.5%. EPS of $1.92 for the same period compares to $1.96 a year ago.
The reported revenue represents a surprise of -0.29% over the Zacks Consensus Estimate of $210.94 million. With the consensus EPS estimate being $1.85, the EPS surprise was +3.78%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
- Trading Volume - Total credit trading - High-grade: $456 billion compared to the $436.28 billion average estimate based on three analysts.
- Average Daily Volume - Total credit trading - Emerging markets: $3.63 billion compared to the $3.35 billion average estimate based on three analysts.
- Average Variable Transaction Fee Per Million - Credit: $154.15 versus $155.86 estimated by three analysts on average.
- Average Daily Volume - Total credit trading: $14.98 billion versus $14.34 billion estimated by three analysts on average.
- Revenues- Information services: $11.88 million versus $12.30 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
- Revenues- Commissions: $184.87 million compared to the $185.29 million average estimate based on five analysts. The reported number represents a change of +1.6% year over year.
- Revenues- Technology services: $2.83 million versus $2.58 million estimated by five analysts on average.
- Revenues- Post-trade services: $10.73 million compared to the $10.85 million average estimate based on five analysts. The reported number represents a change of +7.5% year over year.
- Total commission revenue- Total fixed distribution fees- Rates: $0.07 million compared to the $0.07 million average estimate based on three analysts.
- Total commission revenue- Total fixed distribution fees- Credit: $33.29 million versus $35.70 million estimated by three analysts on average.
- Total commission revenue- Total variable transaction fees- Credit: $141.50 million compared to the $139.78 million average estimate based on three analysts.
- Total commission revenue- Total fixed distribution fees: $33.35 million versus the three-analyst average estimate of $35.94 million. The reported number represents a year-over-year change of -4.1%.
View all Key Company Metrics for MarketAxess here>>>Shares of MarketAxess have returned -8.3% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.