Business
MarketAxess Reports Fourth Quarter 2019 Revenues of $129.8 Million, Operating Income of $60.9 Million and Diluted EPS of $1.32
11 Consecutive Years of Record Volume, Revenue and Earnings Company Announces 18% Increase in Regular Quarterly Dividend to $0.60 per Share, up from $0.51
About this update from Marketaxess Holdings, Inc.
[{"type":"text","content":"11 Consecutive Years of Record Volume, Revenue and Earnings\n Company Announces 18% Increase in Regular Quarterly Dividend to $0.60 per Share, up from $0.51 Fourth Quarter Financial Highlights* Revenues of $129.8 million, up 15%Operating income of $60.9 million, up 13%Diluted EPS of $1.32, up 9% from $1.21Open TradingTM volume of $136.0 billion, up 16% *All comparisons versus fourth quarter 2018. Full Year 2019 Financial Highlights* Record revenues of $511.4 million, up 17%Record operating income of $250.9 million, up 18%Record diluted EPS of $5.40, up 18%Record Open TradingTM volume of $542.8 billion, up 44% *All comparisons versus full year 2018. NEW YORK, Jan. 29, 2020 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced results for the quarter ended December 31, 2019. “The fourth quarter results contributed to our 11th straight year of record revenues and earnings with 2019 revenue growth of 17%,” said Rick McVey, Chairman and CEO of MarketAxess. “We are encouraged by the breadth of growth we see in our business with record volumes, revenues and active institutional clients in all four of our core credit products. Investor and dealer demand for trading automation is fueling a new round of growth in electronic market share for fixed income trading. Open Trading is delivering valuable transaction cost savings to our clients, helping to extend our leadership position in global credit electronic trading with institutional clients. We are excited about many new opportunities emerging in new products and new trading protocols, including our entry into the Rates trading space with our acquisition of LiquidityEdge.” Fourth Quarter Results Total revenues for the fourth quarter of 2019 increased 15.4% to $129.8 million, compared to $112.4 million for the fourth quarter of 2018. Operating income was $60.9 million, compared to $54.0 million for the fourth quarter of 2018, an increase of 12.8%. Operating margin was 46.9%, compared to 48.0% for the fourth quarter of 2018. Net income totaled $50.3 million, or $1.32 per share on a diluted basis, compared to $45.8 million, or $1.21 per share, for the fourth quarter of 2018. Commission revenue f...