NEW YORK - Tradeweb Markets Inc . (NASDAQ:TW), a global operator of electronic marketplaces, reported fourth quarter earnings that beat analyst estimates, while revenue came in slightly below expectations.
The company also raised its quarterly dividend by 20%.
Tradeweb reported adjusted earnings per share of $0.76 for Q4, exceeding the analyst consensus of $0.75. Revenue for the quarter was $463.3 million, up 25.2% YoY but just shy of the $464.82 million analyst estimate.
The company saw strong growth across its business segments in Q4. Rates revenue increased 25.3% to $240.2 million, driven by record average daily volume (ADV) in U.S. government bonds and mortgages.
Credit revenue rose 8.9% to $113.6 million, with U.S. credit ADV up 23.7%. Money Markets revenue surged 166.5% to $44.3 million, boosted by the acquisition of ICD and record ADV in global repurchase agreements.
"2024 was a banner year for Tradeweb, marking our 25th consecutive year of record annual revenues," said CEO Billy Hult. "This achievement reflects our commitment to growing our geographical footprint, entering new markets and client channels through organic and inorganic collaborations, and consistently delivering value to our clients."
Tradeweb’s board declared a quarterly cash dividend of $0.12 per share, a 20% increase from the prior year. The company also provided guidance for full-year 2025, projecting adjusted expenses of $970-1,030 million.
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