Tradeweb Markets Inc

TW: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Tradeweb Earnings: Impressive Trading Volume Drives Strong Revenue Growth

Michael Miller

Oct 30, 2024

Wide-moat-rated Tradeweb Markets reported strong third-quarter results as it is seeing increasing market share and benefits from high trading volume industrywide. Net revenue increased 36.7% from last year and 10.8% from last quarter to $448.9 million. Diluted earnings per share increased 15.2% to $0.53, though this does include acquisition and integration costs from the purchase of ICD, which closed in August. As we incorporate these results, we do not expect to materially alter our $100 fair value estimate.

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Tradeweb Markets Inc

Tradeweb Earnings: Impressive Trading Volume Drives Strong Revenue Growth

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