This Company Has Been Increasing Its Revenue for 24 Consecutive Years

<p>In
2023, Tradeweb Markets (Nasdaq: <a href="https://www.financemagnates.com/tag/tradeweb/" target="_blank" rel="follow">TW</a>) achieved record revenue for the 24th
consecutive year. The company published financial results for the fourth
quarter and full year, highlighting double-digit revenue growth driven by high
trading volumes across several key products.</p><p>Tradeweb's Quarterly
Revenues Jump 26%, Adjusted Net Income Rises 30%</p><p>Total
revenues for the fourth quarter climbed 26.3% year-over-year (YoY) to $370
million. On a constant currency basis, revenues increased 24.6%. The company
achieved a record average daily trading volume (ADV) of $1.7 trillion for the
quarter, a jump of 57%.</p><p>Several
areas posted all-time high ADV numbers, including fully electronic US High
Grade credit, US Treasuries, equity derivatives, global repos and long-dated
<a href="https://www.financemagnates.com/terms/s/swaps/">swaps</a>. Tradeweb's share of fully electronic TRACE trading in US High Grade hit
17.2%, up 284 basis points.</p><p>The adjusted
net income expanded 30% to $151.9 million. Adjusted EBITDA rose 27% to $195.9
million, while the adjusted EBITDA margin reached 53%.</p><p>"We
invested in growing our international footprint across new geographies and
expanded our product offerings through two strategic <a href="https://www.financemagnates.com/institutional-forex/tradeweb-finalizes-acquisition-of-r8fin-boosting-algorithmic-trading/" target="_blank" rel="follow">acquisitions, r8fin</a> and
<a href="https://www.financemagnates.com/institutional-forex/tradeweb-completes-a125-million-acquisition-of-yieldbroker/" target="_blank" rel="follow">Yieldbroker</a>," Billy Hult, the CEO of Tradeweb, commented.</p><p>According
to the latest data published for January 2024, the total monthly trading volume
reached $42.6 trillion. The ADV saw a record $2 trillion, marking a YoY increase of 74.6%.</p><p>Trading Volume Soars
across Asset Classes</p><p>Returning
to Q4 and 2023 reports, ADV Rates surged nearly 73% to $1.1 trillion. Swaps and
swaptions with tenors of 1-year or greater more than doubled amid higher rate
volatility. Mortgages ADV increased 21% and European government bonds grew 22%.</p><p>In Credit,
ADV advanced 12% to $24 billion. Record electronic US High Grade ADV rose 41%.
Session-based trading, request-for-quote and portfolio trading all saw
higher adoption. European Credit ADV jumped 28% from a year ago.</p><p>Equities
ADV increased 37% year-over-year, driven by substantial increases in US and
European ETF volumes. Money Markets ADV was up 35%, led by all-time high repo
trading.</p><blockquote><p lang="en" dir="ltr">Today Tradeweb reported fourth quarter and full year 2023 financial results. Read the full news release here: <a href="https://t.co/GMDiT6AX8u">https://t.co/GMDiT6AX8u</a> <a href="https://t.co/Voht53VK8I">pic.twitter.com/Voht53VK8I</a></p>— Tradeweb (@Tradeweb) <a href="https://twitter.com/Tradeweb/status/1754839821661433932?ref_src=twsrc%5Etfw">February 6, 2024</a></blockquote><p>2023 Revenues Hit Record
$1.3 Billion</p><p>For the
full year 2023, Tradeweb generated record revenues for the 24th straight year.
Revenues grew 12.6% to $1.3 billion, or 12.2% excluding currency effects. The
latest results continue Tradeweb's track record of consistent growth since its
founding in 1996.</p><p>"Our successes
over the past year have led to our 24th consecutive year of revenue growth and
profitability, positioning us well for future opportunities," Hult added.</p><p>Net income
rose nearly 17% to $419.5 million in 2023. Adjusted EBITDA margin improved to
52.4% from 51.9% last year. Tradeweb posted double-digit growth in diluted EPS
and adjusted diluted EPS.</p><p>Outlook and Growth
Initiatives</p><p>Tradeweb
issued full-year 2024 adjusted expense guidance of $755-805 million. The
company completed two acquisitions in 2023 that expanded its global footprint
and product capabilities.</p><p>The company's
CEO pointed out Tradeweb's strong performance in the face of macroeconomic uncertainties last year. He
emphasized the company's favorable position as it enters 2024 to capitalize on improving market <a href="https://www.financemagnates.com/terms/v/volatility/">volatility</a> and other opportunities.</p>

This article was written by Damian Chmiel at www.financemagnates.com.