In the fourth quarter, MarketAxess Holdings Inc. (MKTX) reported a surge in profits compared to the same period in the prior year, surpassing Wall Street's expectations.
The company logged net earnings of $69.63 million, translating to $1.84 per share. This represents an increase from last year's fourth-quarter figures, where the net profit was $59.23 million or $1.58 per share. Analysts projected that the company's earnings would average $1.73 per share, according to data collected by Thomson Reuters. These estimations generally do not account for extraordinary factors.
The firm's quarterly revenue also showed a growth of 10.9%, rising to $197.25 million from $177.90 million seen in the previous year.
To summarize the financials of MarketAxess Holdings for the fourth quarter (in accordance with the Generally Accepted Accounting Principles or GAAP): The net earnings for this period were $69.63 million compared to $59.23 million last year; the Earnings per Share (EPS) was $1.84, up from $1.58 in the previous year, beating the analyst's average estimate of $1.73; and finally, the company's quarterly revenue increased to $197.25 million compared to $177.90 million in last year's quarter.
