MarketAxess (MKTX) reported $209.41 million in revenue for the quarter ended December 2025, representing a year-over-year increase of 3.5%. EPS of $1.68 for the same period compares to $1.73 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $212.7 million, representing a surprise of -1.55%. The company delivered an EPS surprise of +1.45%, with the consensus EPS estimate being $1.66.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MarketAxess performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Variable Transaction Fee Per Million - Credit: $138.00 compared to the $138.67 average estimate based on five analysts.
- Average Daily Volume - Total: $37.89 billion versus the five-analyst average estimate of $39.35 billion.
- Average Daily Volume - Total credit trading: $15.38 billion versus $15.38 billion estimated by five analysts on average.
- Average Daily Volume - Total rates trading: $22.51 billion versus the five-analyst average estimate of $23.97 billion.
- Revenues- Commissions: $181.34 million compared to the $183 million average estimate based on five analysts. The reported number represents a change of +3.8% year over year.
- Revenues- Post-trade services: $11.03 million compared to the $11.36 million average estimate based on five analysts. The reported number represents a change of +0.5% year over year.
- Revenues- Information services: $13.45 million compared to the $13.95 million average estimate based on five analysts. The reported number represents a change of +2.3% year over year.
- Revenues- Technology services: $3.58 million versus $3.53 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.1% change.
- Commissions- Variable transaction fees- Other: $9.38 million compared to the $8.72 million average estimate based on four analysts.
- Total commission revenue- Total variable transaction fees- Rates: $6.7 million versus the four-analyst average estimate of $6.84 million. The reported number represents a year-over-year change of -7.8%.
- Total commission revenue- Total variable transaction fees- Credit: $132.36 million compared to the $134.06 million average estimate based on four analysts. The reported number represents a change of +2.3% year over year.
- Total commission revenue- Total fixed distribution fees: $32.9 million versus the four-analyst average estimate of $33.97 million. The reported number represents a year-over-year change of 0%.
View all Key Company Metrics for MarketAxess here>>>
Shares of MarketAxess have returned -5.2% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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MarketAxess Holdings Inc. (MKTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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