MarketAxess reports Q3 EPS $1.90, consensus $1.85

Reports Q3 revenue $206.7M, consensus $206.24M. Chris Concannon, CEO of MarketAxess (MKTX), commented: “We delivered significantly improved financial results in the third quarter, as we continued to make progress in executing our strategy. The initial roll-out of X-Pro to our international client base is underway. In the Q3, we delivered several hundred basis points in market share gains in U.S. credit portfolio trading compared to second quarter 2024 levels. Additionally, a record 74% of our portfolio trading volume was executed on X-Pro in September. We are looking to build on these gains in the coming quarters with the initial launch of our targeted block trading solutions last month, designed to minimize market impact and optimize trading success. Additionally, we are enhancing our dealer liquidity solutions by extending our suite of automation services to our dealer clients.”