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MarketAxess Q3 Results Top Estimates

MarketAxess Holdings Inc. (MKTX) reported that its third-quarter net income rose to $67.8 million or $1.78 per share from $54.0 million or $1.42 per share in the third quarter of 2019. Analysts polled by Thomson Reuters expected the company to report earnings of $1.74 per share for the quarter. Analysts' estimates typically exclude special items.

Operating income was $87.8 million, compared to $66.0 million for the third quarter of 2019, an increase of 33%.

Total revenues for the third quarter increased 25% to $164.0 million from $131.6 million for the third quarter of 2019. Analysts expected revenues of $161.42 million for the quarter.

The company declared a cash dividend of $0.60 per share, to be paid on November 25, 2020 to stockholders of record as of the close of business on November 11, 2020.

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