MarketAxess Q3 revenue edges up 1% to $210.4M
Key points
- MarketAxess reported third-quarter 2026 revenue of $210.4 million, up 1% year over year, supported by a 6% increase in services revenue to $30.5 million.
- Diluted earnings per share declined to $1.53 from $1.84, while adjusted EPS excluding notable items reached $1.86 and net income totaled $54 million.
- Block trading average daily volume increased 21% to $5.4 billion, while portfolio trading volume rose 37% to $1.9 billion, reflecting growth across key trading channels.
MarketAxess Holdings (NASDAQ:MKTX) reported third-quarter 2026 revenue of $210.4 million, up 1% year over year, supported by growth in information and other services revenue.
Total commission revenue was unchanged at $179.9 million, while services revenue increased 6% to $30.5 million and revenue outside U.S. credit rose 6%.
Net income declined to $54 million from $68.3 million a year earlier, while diluted earnings per share decreased to $1.53 from $1.84.
Block trading average daily volume increased 21% to $5.4 billion, while portfolio trading volume rose 37% to $1.9 billion.
MarketAxess continued expanding its client-initiated and portfolio trading channels, with U.S. credit block trading volume increasing 24% and emerging markets portfolio trading volume rising 41%.
Total expenses increased 10% to $136 million, reducing the reported operating margin to 35.4%, while expenses excluding notable items remained flat at $122.9 million.
MarketAxess previously reported second-quarter revenue of $218.4 million and diluted earnings per share of $1.93, while its third-quarter operating margin excluding notable items improved 60 basis points year over year to 41.6%.
