Press release
Tradeweb Reports Fourth Quarter and Full Year 2023 Financial Results
QUARTERLY CASH DIVIDEND RAISED BY 11.1% to $0.10 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 11.1% to $0.10 PER SHARE\n\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, 2023.\n\n\n$370.0 million quarterly revenues increased 26.3% (24.6% on a constant currency basis) compared to prior year period\n\n\n$1.7 trillion average daily volume (“ADV”) for the quarter, an increase of 56.9% compared to prior year period; quarterly ADV records in fully electronic U.S. High Grade credit, U.S. government bonds, equity convertibles/swaps/options, global repurchase agreements and swaps/swaptions ≥ 1-year; record 17.2% share of fully electronic U.S. High Grade TRACE\n\n\n$103.7 million net income and $151.9 million adjusted net income for the quarter, increases of 4.8% and 30.0% respectively from prior year period\n\n\n53.0% adjusted EBITDA margin and $195.9 million adjusted EBITDA for the quarter, compared to 52.8% and $154.7 million respectively for prior year period\n\n\n$0.42 diluted earnings per share (“Diluted EPS”) and $0.64 adjusted diluted earnings per share for the quarter\n\n\n$0.10 per share quarterly cash dividend declared, an 11.1% per share increase from prior year period\n\n\nBilly Hult, CEO of Tradeweb: \"Tradeweb performed exceptionally well operationally and financially in 2023, a year with no shortage of macro challenges. We invested in growing our international footprint across new geographies and expanded our product offerings through two strategic acquisitions, r8fin and Yieldbroker. Keeping with this growth mindset, we announced a series of new or expanded partnerships with FTSE Russell, LSEG Data & Analytics and BlackRock. Capitalizing on organic opportunities, we grew market share across our global businesses and helped clients stay in front of important trends such as multi-asset class and algorithmic trading. In credit, we reached a record 17.2% share of fully electronic U.S. High Grade TRACE in the fourth quarter. Our successes over the past year have led to our 24th consecutive year of revenue growth and profitability, positioning us well for future opportunities. I am proud of what we accomplished in 2023 and pleased with our strong start to 2024.\"\n\n\n\n\nSELECT...