Tradeweb Reports Strong Q1 2025 Results, Driven by Record Trading Volumes

Tradeweb Markets Inc. (Nasdaq: TW) reported robust financial results for the first quarter of 2025. Revenue rose 24.7% year-over-year to $509.7 million, with average daily trading volume (ADV) hitting $2.5 trillion—up 33.7%. The company posted net income of $168.3 million and adjusted net income of $205.7 million, marking increases of 17.4% and 22.5%, respectively.

Tradeweb also recorded quarterly ADV highs across multiple asset classes, including U.S. and European government bonds, mortgages, U.S. swaps/swaptions (≥1 year), and fully electronic U.S. and European credit.

The company’s adjusted EBITDA margin reached 54.6%, generating $278.2 million in adjusted EBITDA. Diluted EPS came in at $0.69, with adjusted diluted EPS at $0.86. A quarterly cash dividend of $0.12 per share was declared, representing a 20% increase over the prior year.