Published on 7 May 2024 on GuruFocus.com via Yahoo Finance
MarketAxess Holdings Inc (MKTX) Q1 2024 Earnings: Aligns with EPS Projections, Slight Revenue Miss
Revenue: Reported at $210.3 million, up 3.5% year-over-year, slightly below estimates of $212.66 million.Net Income: Achieved $72.6 million, slightly above estimates of $71.44 million.Earnings Per Share (EPS): Recorded at $1.92, surpassing the estimated $1.87.Operating Income: Totaled $92.5 million, reflecting a decrease of 3% from the previous year.Commission Revenue: Grew by 1.6% to $184.87 million, driven by strong performance in emerging markets, Eurobonds, and municipal bonds.Total Expenses: Increased by 9.3% to $117.8 million, influenced by Pragma operating expenses and foreign currency fluctuations.Product Diversification: Notable 40.6% increase in portfolio trading volume and a 36.4% rise in automation suite trading volume.
Warning! GuruFocus has detected 4 Warning Signs with MKTX.