secwatch.observer — SEC 8-K summary
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Issuer:     MARKETAXESS HOLDINGS INC (MKTX)
CIK:        0001278021
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0001193125-25-114350
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MarketAxess Q1 GAAP EPS $0.40 on $54.9M tax reserve; adjusted EPS $1.87
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- GAAP net income $15.1M ($0.40 EPS) vs $73M a year ago; adjusted EPS $1.87 excluding $54.9M tax reserve.
- Total revenues $208.6M (-1% YoY); credit commissions $169.1M (-3%); record services revenue $27.2M (+7%).
- Record total ADV: Open Trading $4.8B (+8%), portfolio trading $1.3B (+78%), EM/eurobond block trading +22%/+68%.
- Effective tax rate 84.3% due to reserve; FY2025 GAAP tax rate guided to 41-42% (prior 23.5-24.5%).
- Board declared $0.76/share quarterly dividend payable June 4, 2025 to holders of record May 21, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1278021/000119312525114350/0001193125-25-114350-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1278021/000119312525114350/d783694d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-114350

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer