Compared to Estimates, MarketAxess (MKTX) Q4 Earnings: A Look at Key Metrics
For the quarter ended December 2023, MarketAxess (MKTX) reported revenue of $197.25 million, up 10.9% over the same period last year. EPS came in at $1.84, compared to $1.58 in the year-ago quarter.
The reported revenue represents a surprise of +0.71% over the Zacks Consensus Estimate of $195.85 million. With the consensus EPS estimate being $1.72, the EPS surprise was +6.98%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MarketAxess performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Variable Transaction Fee Per Million - Rates: $4.62 versus the five-analyst average estimate of $4.39.
Average Variable Transaction Fee Per Million - Credit: $156.28 versus $157.75 estimated by five analysts on average.
Average Daily Volume - Total rates trading: $16.53 billion versus $16.75 billion estimated by four analysts on average.
Average Daily Volume - Total credit trading: $13.11 billion versus $12.93 billion estimated by four analysts on average.
Revenues- Commissions: $171.89 million compared to the $170.78 million average estimate based on six analysts. The reported number represents a change of +8.5% year over year.
Revenues- Information services: $11.92 million versus the six-analyst average estimate of $11.91 million. The reported number represents a year-over-year change of +14.6%.
Revenues- Technology services: $2.49 million versus $2.53 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +937.5% change.
Revenues- Post-trade services: $10.95 million versus $9.71 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +24.1% change.
Total commission revenue- Total variable transaction fees- Credit: $127.28 million versus $126.67 million estimated by four analysts on average.
Total commission revenue- Total fixed distribution fees: $34.89 million versus the four-analyst average estimate of $37.64 million. The reported number represents a year-over-year change of +6.1%.
Total commission revenue- Total variable transaction fees: $137 million versus the four-analyst average estimate of $134.05 million. The reported number represents a year-over-year change of +9.1%.
Total commission revenue- Total variable transaction fees- Rates: $4.74 million versus $4.75 million estimated by four analysts on average.
View all Key Company Metrics for MarketAxess here>>>
Shares of MarketAxess have returned -4.2% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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MarketAxess Holdings Inc. (MKTX) : Free Stock Analysis Report
