The earnings call highlighted significant achievements in trading volume and revenue growth, supported by strategic initiatives and international expansion. However, challenges in the U.S. high-grade market share and a decline in fee per million were noted. Overall, the company demonstrated strong operational performance with clear strategies to address current market challenges.

Company Guidance

During the MarketAxess Second Quarter 2025 Earnings Conference Call, the company reported a 10% revenue growth, excluding the impact of foreign exchange (FX), driven by record trading volumes across various product areas, including surpassing $1 trillion in total credit trading volume and achieving a record $2 trillion in total rates trading volume. Commission revenue increased by 12% to a record $192 million, supported by strong market volumes and new initiatives. The company noted a 38% growth in block trading average daily volume (ADV) across U.S. credit, emerging markets, and Eurobonds, along with a 69% increase in total portfolio trading ADV. Additionally, dealer-initiated ADV rose by 40%. Despite a 5% increase in expenses, excluding notables and FX, MarketAxess maintained cost discipline. The company also repurchased 380,000 shares year-to-date through July 2025 for a total of $80 million. However, in July, the U.S. high-grade market share decreased to 10% from 12% in June, attributed to significant swings in block volume between phone and electronic methods, influenced by tighter investment-grade spreads and low volatility.

Record Trading Volume

Surpassed $1 trillion in total credit trading volume and delivered a record $2 trillion in total rates trading volume.

Revenue Growth

Delivered 11% revenue growth to a record $219 million, with a 12% increase in commission revenue to a record $192 million.

Strategic Initiatives Progress

Generated 38% growth in block trading ADV across U.S. credit, emerging markets, and Eurobonds. Portfolio trading ADV increased by 69%, and dealer-initiated ADV grew by 40%.

International Growth

Strong growth in international product areas with over 20% volume growth and 17% commission revenue growth.

Operational Efficiency

Expenses increased by only 5%, excluding notable items and FX, showing cost discipline while continuing to invest in the platform.

Marketaxess Holdings (MKTX) 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 >

MKTX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 15, 2025	2025 (Q3)	1.80 / -	1.9	―	―	―
Aug 06, 2025	2025 (Q2)	1.96 / 2.00	1.72	16.28% (+0.28)
May 07, 2025	2025 (Q1)	1.81 / 1.87	1.92	-2.60% (-0.05)
Feb 06, 2025	2024 (Q4)	1.68 / 1.73	1.84	-5.98% (-0.11)
Nov 06, 2024	2024 (Q3)	1.84 / 1.90	1.46	30.14% (+0.44)
Aug 06, 2024	2024 (Q2)	1.68 / 1.72	1.59	8.18% (+0.13)
May 07, 2024	2024 (Q1)	1.87 / 1.92	1.96	-2.04% (-0.04)
Jan 31, 2024	2023 (Q4)	1.73 / 1.84	1.58	16.46% (+0.26)
Oct 25, 2023	2023 (Q3)	1.46 / 1.46	1.58	-7.59% (-0.12)
Jul 20, 2023	2023 (Q2)	1.57 / 1.59	1.78	-10.67% (-0.19)

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

MKTX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$206.96	$186.04	-10.11%
May 07, 2025	$227.17	$226.44	-0.32%
Feb 06, 2025	$195.82	$199.02	+1.63%
Nov 06, 2024	$275.22	$271.00	-1.53%

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 Marketaxess Holdings (MKTX) report earnings?

Marketaxess Holdings (MKTX) is schdueled to report earning on Oct 15, 2025, Before Open (Confirmed).

What is Marketaxess Holdings (MKTX) earnings time?

Marketaxess Holdings (MKTX) earnings time is at Oct 15, 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 MKTX EPS forecast?

MKTX EPS forecast for the fiscal quarter 2025 (Q3) is 1.8.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing