New York, July 29, 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 June 30, 2021.
$260.8 million quarterly revenues increased 23.0% (20.2% on a constant currency basis) compared to prior year period
$976.9 billion average daily volume (“ADV”) for the quarter, an increase of 25.5% compared to prior year period with new ADV records in U.S. High Yield credit and Repurchase Agreements. In U.S. credit, Tradeweb set new records for its share of fully electronic TRACE volume: High Grade was 12.1% up from 5.8% in the prior year period and High Yield was 4.8%, up from 1.5% over prior year period
$66.2 million net income and $93.6 million adjusted net income for the quarter, increases of 56.2%, and 32.9% respectively from prior year period
50.6% adjusted EBITDA margin or $131.9 million adjusted EBITDA for the quarter, compared to 47.8% or $101.3 million respectively for prior year period
$0.27 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; $51.7 million of shares repurchased