(RTTNews) - MarketAxess Holdings Inc. (MKTX) on Wednesday reported lower profit in the fourth quarter at $52.2 million, or $1.37 per share compared with $72.9 million, or $1.91 per share in the same quarter a year ago.
The company had higher expenses in the fourth quarter, mainly due to higher employee compensation and benefit costs.
On average, nine analysts polled by Tomson Reuters expected the company to report earnings of $1.43 per share. Analysts' estimates typically exclude special items.
Revenue for the quarter declined 3.7% to $165.1 million from $171.3 million last year, impacted by lower commission revenue as well as variable transaction fees. The consensus estimate was for $164.03 million.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.