NASDAQ$TW
Tradeweb Markets Inc. · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Tradeweb's financial performance for Q2 2021 was reported, highlighting revenue growth, increased trading volumes, and strategic acquisitions.
Tradeweb reported a strong second quarter in 2021, with a 23.0% increase in quarterly revenues to $260.8 million and a 25.5% increase in average daily volume (ADV) to $976.9 billion. The company's net income increased by 56.2% to $66.2 million, and adjusted EBITDA margin reached 50.6%.
- Quarterly revenues increased by 23.0% year-over-year to $260.8 million.
- Average daily volume (ADV) increased by 25.5% year-over-year to $976.9 billion.
- Net income increased by 56.2% year-over-year to $66.2 million.
- Adjusted EBITDA margin was 50.6%.
Headline financials
Revenue & EPS history
Tradeweb · Revenue · Quarterly
$261M
Revenue by segment
Tradeweb · $261M total across 6 segments · Q2 2021
- Rates$134M+18.8%51.4%
- Credit$72.2M+47.1%27.7%
- Market Data$20M+8.2%7.7%
- Equities$17.4M+12.9%6.7%
- Money Markets$11.3M+7.6%4.3%
- Other$5.88M+2.5%2.3%
Forward guidance
Tradeweb updated its full-year 2021 guidance to incorporate the NFI acquisition, expectation of a strong revenue environment in the second half of 2021, and increased investment to support growth businesses.
Tailwinds
- Expectation of a strong revenue environment in the second half of 2021
- Increased investment to support growth businesses
- Adjusted Expenses: $565 - $580 million
- Assumed non-GAAP tax rate: 22.0%
- Capital expenditures and capitalization of software development: $49 - $53 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2021
+1.2%
Avg return
Earnings day
+2.5%
Avg return
5 days after
+4.8%
Avg return
30 days after
60%
18 / 30 earnings
Positive
+10.8%
Q2 2023
Best reaction
-8.5%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | +5.2% | +0.1% | -10.9% | |
| Q4 2025 | +8.6% | +15.8% | +23.6% | |
| Q3 2025 | -1.2% | -0.6% | +3.2% | |
| Q1 2025 | +0.7% | +5.0% | +5.1% | |
| Q4 2024 | -1.4% | -0.6% | +6.4% | |
| Q3 2024 | -3.4% | -3.3% | +3.1% | |
| Q2 2024 | -1.2% | +1.9% | +8.6% | |
| Q1 2024 | -1.1% | -1.2% | +9.0% | |
| Q4 2023 | +2.1% | +5.2% | +6.4% | |
| Q3 2023 | +5.2% | +7.9% | +14.4% | |
| Q2 2023 | +10.8% | +9.0% | +14.3% | |
| Q1 2023 | +1.0% | +1.2% | -1.0% | |
| Q4 2022 | -4.8% | -1.2% | -1.4% | |
| Q3 2022 | +3.6% | +3.6% | +8.2% | |
| Q2 2022 | +0.7% | +3.2% | -4.3% | |
| Q1 2022 | -8.5% | -11.4% | -11.4% | |
| Q4 2021 | -0.1% | +1.0% | +4.0% | |
| Q3 2021 | +2.3% | +5.0% | +10.2% | |
| Q2 2021 | -0.5% | +0.4% | +2.1% | |
| Q1 2021 | +2.2% | +2.3% | +5.4% | |
| Q4 2020 | +1.0% | +5.1% | +11.7% | |
| Q3 2020 | -6.5% | -5.7% | +0.1% | |
| Q2 2020 | -1.0% | -0.7% | +4.6% | |
| Q1 2020 | +8.8% | +9.9% | +16.3% | |
| Q4 2019 | +2.5% | +7.1% | -6.0% | |
| Q4 2018 | +3.4% | +4.5% | +9.5% | |
| Q3 2018 | +3.4% | +4.5% | +9.5% | |
| Q3 2019 | +5.2% | +6.1% | +11.9% | |
| Q2 2019 | -1.4% | -0.8% | -8.4% | |
| Q1 2019 | +0.4% | +2.2% | -0.6% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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