Tradeweb Markets Inc. reported third quarter 2024 revenues of $448.9 million, a 36.7% increase year-over-year, or 36.5% on a constant currency basis. The company achieved a record average daily volume (ADV) of $2.2 trillion for the quarter, up 55.3% compared to the prior year period.
Net income for the quarter was $130.2 million, an increase of 16.7%, while adjusted net income rose 37.1% to $179.3 million. Diluted earnings per share (EPS) was $0.53, and adjusted diluted EPS was $0.75, which was slightly below the consensus estimate of $0.76.
The company declared a quarterly cash dividend of $0.10 per share and repurchased $25.0 million of shares. Tradeweb also updated its Full-Year 2024 guidance to reflect higher adjusted expenses, indicating continued investment in business momentum.
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