Tradeweb Reports Second Quarter 2020 Financial Results
New York, July 30, 2020 – 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 June 30, 2020.
$778.4 billion in average daily volume (“ADV”), an increase of 3.5% year over year. Quarterly records for ADV in U.S. High-Grade Credit, U.S. High-Yield Credit, Bilateral Repos, U.S. Treasury Bills and Emerging Markets Interest Rate Swaps
$212.1 million quarterly gross revenues increased 11.4% (11.8% on a constant currency basis) year over year
$42.4 million net income and $70.4 million adjusted net income, increases of 70.9% and 24.3% respectively from the prior year period
47.8% adjusted EBITDA margin or $101.3 million adjusted EBITDA for the quarter compared to 45.6% or $86.9 million respectively for the prior year period
$0.16 diluted earnings per share (“Diluted EPS”) and $0.30 adjusted diluted earnings per share
$0.08 per share quarterly cash dividend declared
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