Compared to Estimates, MarketAxess (MKTX) Q3 Earnings: A Look at Key Metrics

For the quarter ended September 2024, MarketAxess (MKTX) reported revenue of $206.72 million, up 20% over the same period last year. EPS came in at $1.90, compared to $1.46 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $205.48 million, representing a surprise of +0.60%. The company delivered an EPS surprise of +4.40%, with the consensus EPS estimate being $1.82.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.Here is how MarketAxess performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Average Daily Volume - Total: $40.52 billion versus the five-analyst average estimate of $37.49 billion. Average Variable Transaction Fee Per Million - Credit: $148.97 versus the five-analyst average estimate of $148.68. Average Daily Volume - Total credit trading: $14.12 billion versus the five-analyst average estimate of $13.75 billion. Average Daily Volume - Total rates trading: $26.40 billion compared to the $23.75 billion average estimate based on five analysts. Revenues- Commissions: $180.39 million versus $178.73 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +19.9% change. Revenues- Information services: $12.96 million compared to the $12.83 million average estimate based on six analysts. The reported number represents a change of +9.8% year over year. Revenues- Technology services: $2.98 million versus the six-analyst average estimate of $3.02 million. Revenues- Post-trade services: $10.38 million compared to the $10.65 million average estimate based on six analysts. The reported number represents a change of +5.6% year over year. Total commission revenue- Total variable transaction fees- Credit: $134.86 million versus $130.81 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +23.7% change. Total commission revenue- Total fixed distribution fees: $33.66 million versus $34.26 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -7.1% change. Total commission revenue- Total variable transaction fees: $146.74 million versus the four-analyst average estimate of $143.63 million. The reported number represents a year-over-year change of +28.4%. Total commission revenue- Total variable transaction fees- Rates: $7.02 million versus $6.67 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +34.7% change. View all Key Company Metrics for MarketAxess here>>>Shares of MarketAxess have returned +1.2% over the past month versus the Zacks S&P 500 composite's +0.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MarketAxess Holdings Inc. (MKTX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks