Press release
Tradeweb Reports Fourth Quarter and Full Year 2022 Financial Results
QUARTERLY CASH DIVIDEND RAISED BY 12.5% to $0.09 PER SHARE NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nQUARTERLY CASH DIVIDEND RAISED BY 12.5% to $0.09 PER SHARE \n\n NEW YORK--(BUSINESS WIRE)--\nTradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported financial results for the fourth quarter and full year ended December 31, 2022.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230202005030/en/Billy Hult, CEO, Tradeweb Markets (Photo: Business Wire)\n$293.0 million quarterly revenues increased 5.8% (9.3% on a constant currency basis) compared to prior year period\n\n$1.1 trillion average daily volume (“ADV”) for the quarter, a decrease of 4.1% compared to prior year period; quarterly ADV records in fully electronic U.S. High Grade credit, U.S. credit Tradeweb AllTrade®, municipal bonds, retail U.S. government bonds, retail U.S. credit and retail money markets, U.S. institutional ETFs and sessions-based trading across global cash bonds. Tradeweb captured a record 14.4% share of fully electronic U.S. High Grade TRACE\n\n$99.0 million net income for the quarter increased by 65.0% from prior year period primarily due to lower tax expense related to changes in our deferred tax assets and an increase in interest income. $116.9 million adjusted net income increased by 17.2% from prior year period\n\n52.8% adjusted EBITDA margin or $154.7 million adjusted EBITDA for the quarter, compared to 50.6% or $140.1 million respectively in prior year period\n\n$0.42 diluted earnings per share (“Diluted EPS”) for the quarter and $0.49 adjusted diluted earnings per share for the quarter\n\n$0.09 per share quarterly cash dividend declared, a 12.5% per share increase from prior year; $34.0 million of shares repurchased in the fourth quarter\n\nBilly Hult, CEO of Tradeweb:\n\n“Tradeweb reported its 23rd consecutive year of revenue growth in 2022. The breadth of our business played an important role in these results, as we helped clients navigate interest rate volatility, geopolitical risk, a strong U.S. dollar and fear of a global recession. While this environment created some headwinds for rates trading in the fourth quarter, improved liquidity in December helped drive year-over-year ADV growth for the month in government bonds and swaps. Continued momentum in credit and equities contributed to ...