Tradeweb Markets Second Quarter 2026 Earnings Call

Tradeweb Markets Inc. (TW)

Earnings Call FY2026 Q2 Call date: 2026-07-30 Concluded

Quarter scorecard

Revenue

$558.95M

+9% YoY

Diluted EPS

$0.85

+19.7% YoY

Net income

$181.32M

+17.9% YoY

Transaction Fee Revenue $465.33M

+8.3%

Subscription Fee Revenue $61.72M

+7.5%

Market Data Revenue $26.50M

+28.8%

Financial Service Other $5.39M

+2.8%

Buybacks (derived)

$187.22M

Shares repurchased

1.91M

from the 8-K filed Jul 30, 2026

Metric	Period	Guided	Basis
Adjusted Expenses Initiated Full-Year 2026	Full-Year 2026	$1.1B – $1.16B	Non-GAAP
Acquisition and Refinitiv Transaction related depreciation and a Initiated Full-Year 2026	Full-Year 2026	$160M	—
Assumed non-GAAP tax rate Maintained Full-Year 2026	Full-Year 2026	23.5% – 24.5%	Non-GAAP
Cash capital expenditures and capitalized software development Maintained Full-Year 2026	Full-Year 2026	$107M – $117M	—
LSEG Market Data Contract Revenue Maintained Full-Year 2026	Full-Year 2026	$105M	—