Tradeweb Ends Q4 2022 with a 65% Net Income Rise

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Tradeweb Ends Q4 2022 with a 65% Net Income Rise

<p>Tradeweb Markets (Nasdaq: TW), an operator of electronic marketplaces for rates, credit, <a href="https://www.financemagnates.com/terms/e/equities/" class="terms__main-term" id="d6e02698-4c6b-44dd-ab57-9ff12763325c" target="_blank">equities</a> and money markets, published its financials on Thursday, reporting $293 million in revenue for the fourth quarter of 2022. The figure jumped 5.8 percent year-over-year.</p><p>Tradeweb Sees Solid Net Income Rise</p><p>Further, the company witnessed a massive 65 percent uptick in its quarterly net income, which came in at $99 million. It was boosted by a lower tax expense related to changes in our deferred tax assets and an increase in interest income. On the other hand, the adjusted income increased by 17.2 percent to $116.9 million.</p><p>The adjusted EBITDA for the three months between October and December came in at $154.7 million with a 52 percent margin, compared to $140.1 million with a 50.6 percent margin in the final quarter of the previous year. The diluted earnings per share for the quarter came in at $0.42, with $0.49 as the adjusted figure.</p><p>In the <a href="https://www.financemagnates.com/institutional-forex/tradeweb-markets-q3-revenue-jumps-82-ceo-lee-olesky-to-retire/" target="_blank" rel="follow">third quarter of 2022</a>, the company reported solid performance, with $287.1 million in revenue and $81.6 million in net income. It even <a href="https://www.financemagnates.com/institutional-forex/fxall-tradeweb-markets-partner-to-build-hedging-overflow-solutions/" target="_blank" rel="follow">partnered with FXall</a> to build a hedging overflow solution and <a href="https://www.financemagnates.com/institutional-forex/blackrock-partners-with-tradeweb-broadens-bond-market-offering/" target="_blank" rel="follow">inked another deal with BlackRock</a> to broaden bond market offerings.</p><p>"Tradeweb reported its 23rd consecutive year of revenue growth in 2022," said <a href="https://www.financemagnates.com/executives/tradeweb-veteran-billy-hult-takes-on-ceo-role/" target="_blank" rel="follow">Tradeweb's CEO, Billy Hult</a>, who replaced Lee Olesky for the apex position last month.</p><p>"The breadth of our business played an important role in these results, as we helped clients navigate interest rate volatility, geopolitical risk, a strong US dollar, and fear of a global recession."</p><p>Check out the FMLS22 session on "Market Data amid Global Turmoil and Accelerated Digitalization."</p><p>A Decrease in Tradeweb ADV</p><p>However, the quarterly average daily volume on the platform decreased by 4.1 percent to $1.1 trillion. Its <a href="https://www.financemagnates.com/institutional-forex/tradewebs-full-year-adv-grows-99-to-11trn-in-2022/" target="_blank" rel="follow">full-year ADV</a> for 2022 also came in at $1.1 trillion, which is 9.9 percent higher than the previous year.</p><p>"While this environment created some headwinds for rates trading in the fourth quarter, improved <a href="https://www.financemagnates.com/terms/l/liquidity/" class="terms__secondary-term" id="47c3bef3-27ee-4953-8504-159e1b829b33" target="_blank">liquidity</a> in December helped drive year-over-year ADV growth for the month in government bonds and swaps," Hult added. "Continued momentum in credit and equities contributed to our overall growth story, accounting for 61% and 29% of our fourth quarter revenue growth, respectively."</p>

This article was written by Arnab Shome at www.financemagnates.com.

Source: Tradeweb Ends Q4 2022 with a 65% Net Income Rise