The earnings call highlighted Tradeweb's strong revenue growth, particularly in international markets and emerging technologies like AiEX. However, challenges such as the decline in U.S. Treasuries market share and impacts on ICD due to market volatility were noted.

Company Guidance

During Tradeweb's Second Quarter 2025 Earnings Conference Call, the company provided guidance indicating strong financial performance and future growth expectations. Tradeweb reported record quarterly revenues of $513 million, marking a 26.7% year-over-year increase, with total trading revenues rising by 28%. The company achieved a notable adjusted EBITDA margin of 54.2%, reflecting an 83-basis-point increase compared to 2024. The robust growth was driven by various sectors, including international business, which grew by 41%, and equities, which saw a 50% increase. The rates business also contributed significantly, with record revenues from swaps, global government bonds, and mortgages. Tradeweb's focus on innovation and electronic trading solutions, such as AiEX and Portfolio Trading, continued to resonate well with clients, contributing to the positive outlook for sustained double-digit revenue growth in 2025. The company also highlighted its strategic investments, including plans to increase adjusted expenses to $1 billion to $1.05 billion, with a focus on U.S. and European credit, global repos, and digital assets, while aiming to maintain or surpass 2024's adjusted EBITDA margin levels.

Record Quarterly Revenue

Tradeweb achieved record revenues of $513 million for the quarter, up 26.7% year-over-year, surpassing $1 billion in revenue in the first half of the year.

Strong International Growth

International business revenues increased by 41% with significant growth in EM and APAC regions, contributing to overall company growth.

Equities and Credit Performance

Equities revenue grew by 50% year-over-year, and credit revenue experienced double-digit growth, driven by strong performance in credit derivatives and municipal bonds.

Adjusted EBITDA Margin Expansion

Adjusted EBITDA margins expanded by 83 basis points compared to 2024, highlighting improved profitability.

Technological Advancements

Increased usage of AiEX and Portfolio Trading, with average daily trades in AiEX increasing over 125% year-over-year.

Tradeweb Markets (TW) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	0.86 / -	0.75	―	―	―
Jul 30, 2025	2025 (Q2)	0.86 / 0.87	0.7	24.29% (+0.17)
Apr 30, 2025	2025 (Q1)	0.86 / 0.86	0.71	21.13% (+0.15)
Feb 06, 2025	2024 (Q4)	0.74 / 0.76	0.64	18.75% (+0.12)
Oct 30, 2024	2024 (Q3)	0.75 / 0.75	0.55	36.36% (+0.20)
Jul 25, 2024	2024 (Q2)	0.69 / 0.70	0.52	34.62% (+0.18)
Apr 25, 2024	2024 (Q1)	0.71 / 0.71	0.54	31.48% (+0.17)
Feb 06, 2024	2023 (Q4)	0.64 / 0.64	0.49	30.61% (+0.15)
Oct 26, 2023	2023 (Q3)	0.55 / 0.55	0.45	22.22% (+0.10)
Jul 27, 2023	2023 (Q2)	0.50 / 0.52	0.47	10.64% (+0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$138.31	$146.12	+5.65%
Apr 30, 2025	$137.26	$138.18	+0.67%
Feb 06, 2025	$124.96	$123.21	-1.40%
Oct 30, 2024	$131.13	$128.47	-2.03%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Tradeweb Markets (TW) report earnings?

Tradeweb Markets (TW) is schdueled to report earning on Oct 30, 2025, Before Open (Confirmed).

What is Tradeweb Markets (TW) earnings time?

Tradeweb Markets (TW) earnings time is at Oct 30, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TW EPS forecast?

TW EPS forecast for the fiscal quarter 2025 (Q3) is 0.87.

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