Electronic trading platform Tradeweb Markets (NASDAQ: TW) met Wall Street’s revenue expectations in Q3 2026, with revenue up 14.9% year on year to $584.5 million. Its non-GAAP profit of $1.02 per share was in line with analysts’ consensus estimates.
For more on Tradeweb Markets, read our full research report, available free.
Tradeweb Markets (TW) Q3 2026 highlights:
- Volume $3.2 trillion (23.1% year-on-year growth)
- Revenue $584.5 million vs S&P analysts’ consensus estimates of $584.9 million (14.9% year-on-year growth, in line)
- Pre-tax profit $290 million (49.6% margin)
- Adjusted EPS $1.02 vs S&P analysts’ consensus estimates of $1.01 (in line)
- Market capitalization $25.28 billion
Revenue growth
Examining a company’s long-term performance can provide clues about its quality. Any business can have short-term success, but a top-tier one grows for years. Tradeweb Markets’s revenue grew at an impressive 17.2% compounded annual growth rate over the last five years. Its growth surpassed the average financials company and shows its offerings resonate with customers.
Long-term growth is the most important, but within financials, a half-decade historical view may miss recent interest rate changes and market returns. Tradeweb Markets’s annualized revenue growth of 18.2% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated. 
Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Tradeweb Markets’s year-on-year revenue growth was 14.9%, and its $584.5 million of revenue was in line with Wall Street’s consensus estimates.
Key takeaways from Tradeweb Markets’s Q3 results
Tradeweb Markets delivered a mixed quarter with few clear positives. Shares remained flat at $120.00 immediately after the results.
When deciding whether to invest in Tradeweb Markets, the latest quarter matters, but not nearly as much as longer-term fundamentals and valuation. Read the full research report here (it’s free).
