On July 30, Tradeweb Markets Inc. declined 7.56% in pre-market trading, trading at approximately $101.54 per share, with turnover of $72,000. The sell-off was triggered by the company's Q2 earnings release showing revenue falling short of market expectations.
The Q2 report showed adjusted EPS of $0.97, up 11.49% year-over-year, beating the consensus estimate of $0.95. However, revenue came in at $558.9 million, missing the analyst estimate of $562.4 million. While revenue grew approximately 8.9% year-over-year from $513 million, it dropped significantly from Q1's $617.8 million on a sequential basis. CEO Billy Hult attributed the performance to more normalized volatility compared to the first quarter, noting resilience in the multi-asset platform with strong volume growth across the business.
Heading into the report, analysts had projected 9.81% revenue growth for the quarter. Goldman Sachs and UBS had maintained bullish ratings with price targets of $146 and $150, respectively, well above the current trading level.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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