Tradeweb Markets reports Q1 adjusted EPS 86c, consensus 86c

Reports Q1 revenue $509.68M, consensus $507.64M. The company said, “Tradeweb delivered strong financial results for the first quarter of 2025, underscoring how technology is reshaping single market and multi-asset class trading. We reported record revenue of $509.7 million-up nearly 25% YoY-alongside record trading volume of $164.5 trillion and average daily volume of $2.5 trillion, up 33.7% YoY. While market volatility contributed to record volumes, we also saw positive market share trends and greater adoption of electronic protocols and tools. In rates, performance was fueled by the combined strength of Tradeweb’s institutional and wholesale U.S. Treasuries platforms, as well as our global strength in interest rate swaps. This quarter also marked the 20th anniversary of Tradeweb’s interest rate swaps platform-two decades of driving innovation in this market. In credit, we captured nearly 26% of total and 18% of fully electronic share of U.S. high grade TRACE, respectively, and 10% and 7.5% of total and fully electronic share of U.S. high yield TRACE, respectively. In January, Troy Dixon joined our leadership team as co-head of global markets alongside Enrico Bruni, and in March, we welcomed Rich Repetto to our Board. More recently, as volatility played out across Treasury markets in early April, we facilitated record single-day volume of $472.5bn in U.S. government bonds on April 9. Despite this intense volatility and record volumes, markets operated properly, and traders continued to rely on electronic trading.”