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MarketAxess (MKTX) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended March 2023, MarketAxess (MKTX) reported revenue of $203.17 million, up 9.2% over the same period last year. EPS came in at $1.96, compared to $1.73 in the year-ago quarter.

The reported revenue represents a surprise of +1.39% over the Zacks Consensus Estimate of $200.39 million. With the consensus EPS estimate being $1.89, the EPS surprise was +3.70%.

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.

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Here is how MarketAxess performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Total Trading Volume: $2,372.83 billion compared to the $2,459 billion average estimate based on four analysts.

  • Average Daily Volume - High-grade: $6.33 billion versus the four-analyst average estimate of $6.41 billion.

  • Average Daily Volume - Total rates trading: $24.48 billion versus the three-analyst average estimate of $25.50 billion.

  • Average Variable Transaction Fee Per Million - Rates: $4.12 versus the three-analyst average estimate of $4.

  • Revenues- Post-trade services: $9.98 million versus $9.50 million estimated by five analysts on average.

  • Revenues- Information services: $11.01 million versus the five-analyst average estimate of $10.58 million.

  • Revenues- Other: $0.19 million versus the five-analyst average estimate of $0.24 million.

  • Revenues- Commissions: $181.99 million compared to the $180.35 million average estimate based on five analysts.

  • Total commission revenue- Total fixed distribution fees: $34.76 million versus $33.07 million estimated by three analysts on average.

  • Total commission revenue- Total variable transaction fees: $147.23 million compared to the $147.91 million average estimate based on three analysts.

View all Key Company Metrics for MarketAxess here>>>

Shares of MarketAxess have returned -17.5% over the past month versus the Zacks S&P 500 composite's +2.6% 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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MarketAxess Holdings Inc. (MKTX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research