MarketAxess Holdings, Inc. (NASDAQ:MKTX) disclosed its second quarter earnings results on Wednesday 22nd July 2020 before market open.
The reported $ 2.20 income per share for the quarter, beat the consensus estimate of $ 2.12 income per share by $ 0.08 or 3.77 percent.
The quarterly earnings increased 73.23 percent compared with the same quarter last year.
The firm had revenue of $ 184.79 million for the quarter, compared to the consensus estimate of $ 181.29 million. The revenues outshined analysts estimates by $ 3.50 million or 1.93 percent.
The financial report showed revenues increased 47.25 percent versus second quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Rick McVey, Chairman and CEO of MarketAxess, said, Institutional investors and dealers both leaned into our Open Trading marketplace to meet their trading and liquidity needs, driving record estimated market share for both high-grade and high-yield bonds on the system. Estimated transaction cost savings delivered back to our clients reached an all-time high, with client savings exceeding company revenue for the second quarter in a row.
The board of directors declared a cash dividend of $ 0.60 per share of common stock outstanding, to be paid on August 19, 2020 to stockholders of record as of the close of business on August 5, 2020.
