Tradeweb Delivers Overall Growth Across All Financial Metrics for Q2 2023

Tradeweb Markets Inc. (Tradeweb), a leading global operator of electronic marketplaces for rates, credit, equities and money markets, has released its financial results for the second quarter of 2023 (Q2 2023), showing an increase across all financial metrics.

Total revenues for the quarter reacehd $310.6 million, representing an increase of 4.5% from $297.1 million in Q2 2022. Average daily volume during the period came in at $1.3 trillion, up 10.2% from the year-ago quarter.

Net income for Q2 2023 rose 24.9% on a yearly basis to $101.9 million, with the adjusted figure up 10.8% to $123.7 million. Net income attributable to Tradeweb stood at $89.1 million, 30.3% higher over the last same period.

Adjusted EBITDA margin was 52.5% and adjusted EBITDA of $163.1 million, compared to 52.4% and $155.6 respectively million in the prior year.

In addition, diluted earnings per share (EPS) for the quarter grew from $0.33 to $0.42, with the adjusted diluted EPS up to $0.52 from $0.47.

In April, Fazzaco reported that Tradeweb generated total revenue of $329.2 million in Q1 2023​, an increase of 5.7% compared to $311.5 million in Q1 2022.