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Tradeweb (TW) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended December 2025, Tradeweb Markets (TW - Free Report) reported revenue of $521.18 million, up 12.5% over the same period last year. EPS came in at $0.87, compared to $0.76 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $516.68 million, representing a surprise of +0.87%. The company delivered an EPS surprise of +2.52%, with the consensus EPS estimate being $0.85.

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 Tradeweb performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Average Daily Volumes - Money Markets: $1,092.11 billion compared to the $1,089.46 billion average estimate based on 10 analysts.
  • Average Daily Volumes - Rates: $1,673.96 billion versus the 10-analyst average estimate of $1,612.77 billion.
  • Average Daily Volumes - Rates - Cash: $556.91 billion compared to the $557.00 billion average estimate based on 10 analysts.
  • Average Daily Volumes - Credit: $33.64 billion compared to the $34.67 billion average estimate based on 10 analysts.
  • Revenue by Asset Class- Credit- Fixed: $17.47 million versus the 10-analyst average estimate of $18.73 million. The reported number represents a year-over-year change of +71.4%.
  • Revenue by Asset Class- Total Variable: $385.77 million compared to the $381.31 million average estimate based on 10 analysts. The reported number represents a change of +11.6% year over year.
  • Revenue by Asset Class- Other: $12.75 million versus the 10-analyst average estimate of $8.19 million. The reported number represents a year-over-year change of +94.4%.
  • Revenue by Asset Class- Money Markets- Fixed: $4.51 million compared to the $4.49 million average estimate based on 10 analysts. The reported number represents a change of +6.6% year over year.
  • Revenue by Asset Class- Equities- Fixed: $2.47 million versus $2.5 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +8.4% change.
  • Revenue by Asset Class- Money Markets- Variable: $41.12 million compared to the $40.71 million average estimate based on 10 analysts. The reported number represents a change of +2.7% year over year.
  • Revenue by Asset Class- Equities- Variable: $29.06 million versus the 10-analyst average estimate of $30.13 million. The reported number represents a year-over-year change of +9.8%.
  • Revenue by Asset Class- Credit- Variable: $100.94 million versus $101.38 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a -2.4% change.

View all Key Company Metrics for Tradeweb here>>>

Shares of Tradeweb have returned -5% over the past month versus the Zacks S&P 500 composite's +0.5% 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.

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