MarketAxess Q1 Revenue $233.4M Beats Expectations
Reports Q1 revenue $233.4M, consensus $232.02M. CEO Chris Concannon commented: "We delivered record levels of trading volume, commission revenue and services revenue, driven by increased volatility and heightened demand for our differentiated liquidity from our global client network. Our strong results were broad-based and included 20% growth in revenue outside of U.S. credit, including record levels of commission revenue in emerging markets and eurobonds. Our new initiatives are also continuing to gain traction across our three strategic channels with record levels of ADV across block trading, portfolio trading and dealer-initiated activity. Our MarketAxess advantage continued to strengthen in the first quarter by expanding our global network, deepening our differentiated liquidity and widening the competitive moat of our proprietary data and analytics. Our accelerating use of AI will help us deliver new trading and unique data solutions to our clients."
