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Tradeweb Reports Third Quarter 2021 Financial Results

| Tradeweb Markets

New York, October 28, 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 September 30, 2021.

$265.3 million quarterly revenues increased 24.6% (23.9% on a constant currency basis) compared to prior year period

$964.5 billion average daily volume (“ADV”) for the quarter, an increase of 23.6% compared to prior year period, with record ADV in U.S. government bonds. In U.S. credit, Tradeweb set new records for its share of fully electronic TRACE volume: High Grade was 12.6%, up from 7.7% in the prior year period, and High Yield was 6.2%, up from 2.5% in the prior year period

$65.3 million net income and $94.2 million adjusted net income for the quarter, increases of 38.8%, and 34.6% respectively from prior year period

50.1% adjusted EBITDA margin or $132.9 million adjusted EBITDA for the quarter, compared to 47.4% or $100.9 million respectively for prior year period

$0.26 diluted earnings per share (“Diluted EPS”) for the quarter and $0.39 adjusted diluted earnings per share

$0.08 per share quarterly cash dividend declared; $12.0 million of shares repurchased

 

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