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MarketAxess (MKTX) Q2 Earnings Miss Estimates But Rise Y/Y
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MarketAxess Holdings Inc.'s (MKTX - Free Report) second-quarter 2019 earnings per share of $1.27 missed the Zacks Consensus Estimate by 2.3% but improved 15.9% year over year.
Operational Update
Revenues totaled $125 million, up 16.8% year over year. The top line, however, met the Zacks Consensus Estimate.
Commission revenues rose 18.7% year over year to $114.1 million. Information services revenues rose 3.3% year over year to $7.2 billion. Revenues from post-trade services were up 9.3% to $3.96 million.
Total trading volume expanded 25% year over year to $527 billion.
Total expenses at MarketAxess escalated 18% from the prior-year quarter to $64.6 million. This rise was primarily due to higher employee compensation and benefit, as the company continues to add personnel to support its growth initiatives.
Operating margin was 48.5%, down 10 basis points (bps) year over year.
MarketAxess Holdings Inc. Price, Consensus and EPS Surprise
Some other stocks worth considering in the same space are CME Group (CME - Free Report) , Nasdaq, Inc. (NDAQ - Free Report) and Intercontinental Exchange Inc. (ICE - Free Report) . Each of these players carries the same Zacks Rank as MarketAxess.
CME Group, Nasdaq, and Intercontinental Exchange, each have surpassed their earnings estimates in each of the four reported quarters with an average positive surprise of 1.42%, 1.5% and 3.23% , respectively.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
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MarketAxess (MKTX) Q2 Earnings Miss Estimates But Rise Y/Y
MarketAxess Holdings Inc.'s (MKTX - Free Report) second-quarter 2019 earnings per share of $1.27 missed the Zacks Consensus Estimate by 2.3% but improved 15.9% year over year.
Operational Update
Revenues totaled $125 million, up 16.8% year over year. The top line, however, met the Zacks Consensus Estimate.
Commission revenues rose 18.7% year over year to $114.1 million. Information services revenues rose 3.3% year over year to $7.2 billion. Revenues from post-trade services were up 9.3% to $3.96 million.
Total trading volume expanded 25% year over year to $527 billion.
Total expenses at MarketAxess escalated 18% from the prior-year quarter to $64.6 million. This rise was primarily due to higher employee compensation and benefit, as the company continues to add personnel to support its growth initiatives.
Operating margin was 48.5%, down 10 basis points (bps) year over year.
MarketAxess Holdings Inc. Price, Consensus and EPS Surprise
MarketAxess Holdings Inc. price-consensus-eps-surprise-chart | MarketAxess Holdings Inc. Quote
Financial Update
Total assets were $812 million as of Jun 30, 2019, up 16.7% from year-end 2018 level.
Total cash, cash equivalents and investments were $286.2 million, up 16% from the year-ago figure.
As of Jun 30, 2019, total stockholders' equity was $661.9 million, up 8.9% from year-end 2018 levels. .
Zacks Rank & Other Releases
MarketAxess carries a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other stocks worth considering in the same space are CME Group (CME - Free Report) , Nasdaq, Inc. (NDAQ - Free Report) and Intercontinental Exchange Inc. (ICE - Free Report) . Each of these players carries the same Zacks Rank as MarketAxess.
CME Group, Nasdaq, and Intercontinental Exchange, each have surpassed their earnings estimates in each of the four reported quarters with an average positive surprise of 1.42%, 1.5% and 3.23% , respectively.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>