Tradeweb Markets Inc. (NASDAQ:TW), a global operator of electronic marketplaces for rates, credit, equities and money markets, today reported financial results for the quarter ended June 30, 2025.

The company reported $513.0 million in quarterly revenues, an increase of 26.7% (24.7% on a constant currency basis) compared to prior year period.

International revenues reached $215.2 million in the second quarter of 2025, an increase of 40.8% (35.8% on a constant current basis) compared to prior year period.

The company posted $2.6 trillion average daily volume (“ADV”) for the quarter, an increase of 32.7% compared to prior year period.

The company registered net income of $175.5 million and adjusted net income of $206.1 million in the quarter, up 28.7% and 23.7% respectively from prior year period.

Adjusted EBITDA for the quarter amounted to $277.9 million, compared to $216.5 million for prior year period.

Tradeweb posted $0.71 of diluted earnings per share (“Diluted EPS”) and $0.87 of adjusted diluted earnings per share for the quarter.

The company declared $0.12 quarterly cash dividend per share, a 20.0% per share increase from prior year period.

Billy Hult, CEO of Tradeweb:

“Tradeweb delivered a strong second quarter, despite macro challenges around the April 2025 U.S. tariff announcements, rising tensions in the Middle East and evolving central bank policy decisions, which continued to test the resiliency of electronic trading across global markets.

Against this background, we continued to work with clients on strategic initiatives in traditional markets and the digital asset space. Our recently announced collaboration with Novaprime will bring new intelligence and workflow tools into the mortgage space, helping us unlock value across the trade lifecycle. Furthermore, as AI continues to shape the evolution of markets, we were pleased to welcome Sherry Marcus as Tradeweb’s Head of AI in May. Sherry’s extensive experience and leadership will be instrumental in advancing our AI capabilities to new levels of sophistication.

We introduced direct Treasury bill trading for corporate treasurers through a seamless integration between our ICD Portal and institutional platform — demonstrating the capabilities and innovation we’re able to provide clients through our fourth client channel. Building on our successes in credit, we were excited to introduce electronic portfolio trading for European government bonds — extending this innovative protocol to this asset class”.