Countdown to Tradeweb (TW) Q2 Earnings: A Look at Estimates Beyond Revenue and EPS

Core Insights - Tradeweb Markets (TW) is expected to report quarterly earnings of $0.86 per share, reflecting a 22.9% increase year over year, with revenues projected at $510.25 million, a 26% year-over-year increase [1] - Analysts have revised the consensus EPS estimate 0.8% higher in the last 30 days, indicating a collective reevaluation of initial estimates [1][2] Revenue Estimates - Revenue by Asset Class - Rates - Variable is estimated to reach $201.01 million, a 27.5% year-over-year increase [4] - Total Variable Revenue is projected at $378.06 million, indicating a 28.2% increase year over year [4] - Revenue by Asset Class - Money Markets - Fixed is expected to be $4.35 million, showing a slight increase of 0.1% from the prior year [5] - Revenue by Asset Class - Rates - Fixed is estimated at $68.69 million, reflecting a 14.7% increase from the previous year [5] Average Daily Volumes - Total Average Daily Volumes are projected at $2535.85 billion, up from $1922.27 billion year over year [6] - Average Daily Volumes - Rates are expected to reach $1434.28 billion, compared to $1249.47 billion in the same quarter last year [6] - Average Daily Volumes - Money Markets are estimated at $1035.52 billion, significantly up from $621.84 billion year over year [7] - Average Daily Volumes - Equities are projected at $26.49 billion, an increase from $21.26 billion in the previous year [7] - Average Daily Volumes - Credit is expected to reach $39.56 billion, up from $29.71 billion year over year [8] Variable Fees - Average variable fees per million dollars of volume - Equities are projected to be $18.10, compared to $15.39 in the previous year [8] - Average variable fees per million dollars of volume - Credit are expected to be $43.87, down from $55.33 in the same quarter last year [9] Market Performance - Tradeweb shares have shown a return of -4.1% over the past month, contrasting with the Zacks S&P 500 composite's +4.9% change [9]