Tradeweb Markets Inc. · TW · FY2026 Q3 · Calendar Q4 2026
Tradeweb posts 14.9% growth as electronic trading expands
Tradeweb's latest call supports a constructive growth narrative: electronification, AI-enabled tools, international expansion and Tri-Med broaden its opportunity set. The evidence is balanced by fee pressure, rate sensitivity, competition and integration risk.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Revenue growth accelerated to 14.9% year over year, while international markets drove more than 60% of total revenue growth. Management also highlighted expanded AI tools and announced the Tri-Med acquisition.
Guidance delta
Maintained; the supplied analysis does not identify a change to guidance.
Key takeaways
- Revenue reached $585 million, the second highest in company history.
- US Treasury market share reached 23.6%, while electronic swaps share was 70–80%.
- AI tools, international expansion and Tri-Med are central to the next phase of growth.
Management priorities
- Invest in AI capabilities and data-driven tools.
- Expand electronification in Asia and emerging markets.
- Integrate Tri-Med and add credit and rates protocols.
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Try FN2 freeCompany context
Snapshot as of publicationTradeweb Markets Inc. is a global provider that develops and manages sophisticated electronic trading platforms across the Americas, Europe, the Middle East, Africa, and Asia Pacific. These digital venues facilitate transactions in a diverse array of financial instruments, including fixed income (rates and credit), money market products, and equities. The company offers a comprehensive range of services, encompassing pre-trade analytics and data, efficient trade execution, and streamlined processing. It also delivers valuable post-trade data insights, analytical tools, and detailed reporting solutions. Tradeweb caters to a broad spectrum of market participants.…
Financial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ICE Intercontinental Exchange, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +5.5% | ICE posts record Q3 as data, energy and rates growth accelerates |
| BBVA Banco Bilbao Vizcaya Argentaria, S.A. | FY2026 Q3 · Calendar Q4 2026 | — | -2.5% | BBVA sustains strong growth and profitability in Q3 |
| TROW T. Rowe Price Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +1.3% | T. Rowe Price pairs Q4 flow hopes with ETF and SMA momentum |
| ING ING Groep N.V. | FY2026 Q3 · Calendar Q4 2026 | — | -2.1% | ING pairs strong Q3 execution with costly wholesale restructuring |
| SAN Banco Santander, S.A. | FY2026 Q3 · Calendar Q4 2026 | 0.0% | -6.3% | Santander reaffirms guidance as transformation and integrations progress |
| AON Aon plc | FY2026 Q3 · Calendar Q4 2026 | +1.8% | +4.4% | Aon Q3: 6% organic growth; USI synergies add execution focus |
Latest beats and misses
Who reports nextBeat on EPS
- STRLFY2026 Q3 · October 28, 2026+22.3% EPS-0.4% move
- KGCFY2026 Q3 · October 28, 2026+8.7% EPS-6.1% move
- GENFY2027 Q2 · October 28, 2026+2.9% EPS+11.2% move
- KLACFY2027 Q1 · October 28, 2026+2.5% EPS+7.3% move
- SANFY2026 Q3 · October 28, 20260.0% EPS-6.3% move
- FFY2026 Q3 · October 28, 2026+19.5% EPS+1.4% move
Missed on EPS
- AWKFY2026 Q3 · October 28, 2026-2.0% EPS+1.1% move
- CPFY2026 Q3 · October 28, 2026-3.2% EPS-1.9% move
- LIIFY2026 Q3 · October 28, 2026-7.1% EPS-10.6% move
- EXRFY2026 Q3 · October 27, 2026-1.7% EPS+0.1% move
- NOWFY2026 Q3 · October 28, 2026-2.0% EPS-3.0% move
- CMGFY2026 Q3 · October 28, 2026-7.1% EPS+2.7% move
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Sources
- Earnings call transcript and parsed analysis · 2026-10-29T19:14:53.783862+00:00
- FN2 earnings calendar · 2026-10-29T01:23:20.584741+00:00
- Polygon adjusted daily market bars · 2026-10-29T19:20:43.166182+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-29T19:20:43.163545+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-29. For educational purposes only; not investment advice.