Business
MarketAxess Reports Fourth Quarter and Full Year 2024 Financial Results
Record Full Year Revenue of $817 Million, Up 9% Strong Full Year Commission Revenue Growth Across Most Product Areas NEW YORK--(BUSINESS WIRE)-- MarketAxess
About this update from Marketaxess Holdings, Inc.
[{"type":"text","content":"\nRecord Full Year Revenue of $817 Million, Up 9%\n\n\nStrong Full Year Commission Revenue Growth Across Most Product Areas\n\n\n NEW YORK--(BUSINESS WIRE)--\nMarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced financial results for the fourth quarter and full year ended December 31, 2024.\n\n\n4Q24 select financial and operational highlights*\n\n\n\nTotal revenues of $202.4 million, including an increase of approximately $1.0 million from the impact of foreign currency fluctuations.\n\n\n15% growth in emerging markets and Eurobonds commission revenue, reflecting strong geographic diversification.\n\n\n\nRecord rates commission revenue, up 53%.\n\n\n\n\n\n\nTotal expenses of $122.4 million, up 2%, including an increase of approximately $0.9 million from the impact of foreign currency fluctuations.\n\n\n\nDiluted earnings per share (“EPS”) of $1.73 on net income of $65.1 million.\n\n\n\nFull Year 2024 select financial and operational highlights**\n\n\n\n9% increase in total revenues to a record $817.1 million, including Pragma revenue of $31.7 million and an increase of approximately $3.0 million from the impact of foreign currency fluctuations.\n\n\n9% growth in U.S. high-grade commission revenue, helped offset a 17% decline in U.S. high-yield commission revenue, driven by low levels of credit spread volatility.\n\n\n\nRecord commission revenue across emerging markets, Eurobonds and municipal bonds, up a combined 15%.\n\n\n\nRecord rates commission revenue, up 21%.\n\n\n\nRecord services revenue (combined information, post-trade and technology services revenue) of $105.4 million, up 18%, including the benefit from Pragma.\n\n\n\n\n\n\n9% increase in total expenses to $476.2 million, including Pragma operating expenses of $32.0 million and an increase of approximately $2.4 million from the impact of foreign currency fluctuations.\n\n\n\n6% increase in EPS to $7.28 on net income of $274.2 million.\n\n\n\n*All comparisons versus 4Q23.\n** All comparisons versus full year 2023.\n\n\nChris Concannon, CEO of MarketAxess, commented:\n\n\n“In 2024, we made significant strides in enhancing our client franchise, increasing client engagement with X-Pro, delivering progress with our high touch strategy, and achieving record levels of revenue and ADV acr...