Tradeweb Markets Inc-Class

Q2 FY2026 EarningsQ2 FY26 results were slightly below consensus on the top line but delivered a beat on the bottom line. Revenue of $558.9M fell just short of the $559.2M expected, while Adjusted Diluted EPS of $0.97 exceeded the $0.95 consensus. Adjusted Net Income reached $228.1M, surpassing the $223.2M mean estimate, supported by a lower-than-expected effective tax rate and strong cost control despite investments in data strategy. Full-year 2026 expense guidance was maintained, though trending toward the top end, while ADV grew 18.2% YoY driven by Rates and Credit momentum.