MarketAxess Q2 Profit Declines, But Results Top Estimates

(RTTNews) - Electronic trading platform MarketAxess Holdings Inc. (MKTX) reported Thursday that its second-quarter net income declined to $59.86 million or $1.59 per share from $66.92 million or $1.78 per share in the prior-year quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.57 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter decreased 1.3 percent to $179.85 million from $182.23 million in the same quarter last year. Analysts expected revenues of $179.47 million for the quarter.

The Company's board of directors also declared a quarterly cash dividend to $0.72 per share of common stock outstanding, payable on August 16, 2023 to stockholders of record as of the close of business on August 2, 2023.

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