MarketAxess Holdings Inc.
) reported second quarter earnings of 34 cents per share, beating
the Zacks Consensus Estimate of 32 cents per share as well as the
year-ago quarter earnings of 30 cents per share. Net income for the
company came in at $12.6 million, increasing 5.8% over the year-ago
Total revenue as reported by MarketAxess for the second quarter
amounted to $48.8 million, in line with the Zacks Consensus
Estimate but increasing 6.6% from $45.8 million in the year-ago
quarter. The increase was primarily attributable to the increase in
commission earned by the company due to increased trading volumes,
increase in information and user access fees and other revenues
Total expenses escalated 6.7% year over year to $27.6 million in
the second quarter due to increase in technology and communications
expenses, general administrative expenses and expenses related to
marketing and advertisement.
Total volumes traded on the exchange amounted to $144.8 billion,
an increase of almost 9% from $133.0 billion traded in the year-ago
Cash and cash equivalents for MarketAxess at quarter end
decreased 23.6% to $129.6 million from $169.6 million as of
2011-end. Total assets with the company at the end of the second
quarter amounted to $289.7 billion, declining 17.1% from $349.5
billion as of December 31, 2011. Also, shareholders' equity of
$261.7 million decreased 16.2% from $312.4 million as of
The board of MarketAxess declared a cash dividend of 11 cents
per share, which will be paid on August 23, 2012 to shareholders of
record as on August 9, 2012.
NASDAQ OMX Group Inc.
), one of the peers of the company, reported its second quarter
results yesterday. The operating earnings per share of 64 cents
surpassed both the Zacks Consensus Estimate of 60 cents and the
prior-year quarter's earnings of 62 cents a share.
Total net exchange revenues edged up 2.2% year over year to $424
million, and also surpassed the Zacks Consensus Estimate of $416
million. The upside was primarily attributable to improved revenue
from market services, although issuer services and market
technology revenues remained sluggish.
MarketAxess carries a Zacks #3 Rank, implying a short-term Hold
MARKETAXESS HLD (MKTX): Free Stock Analysis
NASDAQ OMX GRP (NDAQ): Free Stock Analysis
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