Tradeweb Reports First Quarter 2021 Financial Results
New York, April 29, 2021–Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported financial results for the quarter ended March 31, 2021.
$273.4 million quarterly revenues increased 16.5% (13.9% on a constant currency basis) compared to prior year period
$1.06 trillion record average daily volume (“ADV”) for the quarter, an increase of 18.0% compared to prior year period with ADV records in U.S. and European government bonds, mortgages, rates derivatives, U.S. High Grade bonds, U.S. High Yield bonds, European Credit, Chinese bonds, Repurchase Agreements and European ETFs. Tradeweb share of fully electronic TRACE volume or the quarter was 10.1% for U.S. High Grade and 4.0% for U.S. High Yield, compared to 5.9% and 2.0% respectively in prior year period
$81.6 million net income and $101.6 million adjusted net income for the quarter, increases of 30.5%, and 19.0% respectively from prior year period
52.0% adjusted EBITDA margin or $142.1 million adjusted EBITDA for the quarter, compared to 51.0% or $119.7 million respectively for prior year period
$0.33 diluted earnings per share (“Diluted EPS”) for the quarter and $0.43 adjusted diluted earnings per share $0.08 per share quarterly cash dividend declared
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