MarketAxess Q3 Profit Declines, But Tops Estimates - Quick Facts

(RTTNews) - MarketAxess Holdings Inc. (MKTX) reported Wednesday that its third-quarter net income declined to $58.0 million or $1.52 per share from $67.8 million or $1.78 per share in the prior-year quarter.

On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $1.46 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter decreased 1.2% to $162.1 million from $164.0 million in the same quarter last year. Analysts expected revenues of $165.73 million for the quarter.

The Company's board of directors also declared a quarterly cash dividend to $0.66 per share of common stock outstanding, to be paid on November 17, 2021 to stockholders of record as of the close of business on November 3, 2021.

The Company also trimmed its full year 2021 expense guidance range to $360.0 million to $365.0 million from a range of $370.0 million to $386.0 million, to reflect among other items, lower incentive compensation and variable clearing costs.