MarketAxess Q1 Profit Declines, But Tops Estimates

(RTTNews) - Electronic trading platform MarketAxess Holdings Inc. (MKTX) reported Wednesday that its first-quarter net income declined to $64.77 million or $1.71 per share from $80.46 million or $2.11 per share in the prior-year quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.69 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter decreased 13 percent to $186.06 million from $195.46 million in the same quarter last year. Analysts expected revenues of $187.10 million for the quarter.

The Company's board of directors also declared a quarterly cash dividend to $0.70 per share of common stock outstanding, to be paid on May 18, 2022 to stockholders of record as of the close of business on May 4, 2022.

The Company also reconfirms its full-year 2022 effective tax rate guidance range of 24.0% to 26.0%.