MarketAxess Holdings, Inc. (NASDAQ:MKTX) Q1 2024 Earnings Conference Call May 7, 2024 10:00 AM ET

Company Participants

Stephen Davidson - Head of Investor Relations
Christopher Concannon - Chief Executive Officer and Interim Chief Financial Officer
Richard Schiffman - Global Head of Trading Solutions

Conference Call Participants

Christopher Allen - Citi
Alex Kramm - UBS
Patrick Moley - Piper Sandler
Kyle Voigt - KBW
Daniel Fannon - Jefferies
Jeff Schmitt - William Blair
Brian Bedell - Deutsche Bank
Michael Cyprys - Morgan Stanley
Alexander Blostein - Goldman Sachs
Benjamin Budish - Barclays
Eli Abboud - Bank of America

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the MarketAxess First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. As a reminder, this conference call is being recorded on May 7, 2024.

I would now like to turn the call over to Steve Davidson, Head of Investor Relations at MarketAxess. Please go ahead, sir.

Stephen Davidson

Good morning and welcome to the MarketAxess First Quarter 2024 Earnings Conference Call. For the call, Chris Concannon, Chief Executive Officer, will provide you with a strategic update on the company. Rich Schiffman, Global Head of Trading Solutions will update you on the performance of our markets this quarter and then I will review the financial results.

Before I turn the call over to Chris, let me remind you that today's call may include forward-looking statements. These statements represent the company's belief regarding future events that, by their nature, are uncertain. The company's actual results and financial condition may differ materially from what is indicated in those forward-looking statements.

For a discussion of some of the risks and factors that could affect the company's future results, please see the description of risk factors in our annual report on Form 10-K for the year ended December 31st, 2023. I would also direct you to read the forward-looking statement disclaimer in our quarterly earnings release, which was issued earlier this morning and is now available on our website.

Now let me turn the call over to Chris.

Christopher Concannon

Good morning, and thank you for joining us to review our first quarter results. Turning to slide three of my strategic update. We delivered 4% total revenue growth, including the benefit of our Pragma acquisition and earnings per share was $1.92. While we are not happy with recent trends in our estimated market share in US credit, we recognize the importance of being equally strong in the faster growing areas of the market and we have a quick strategy to return to higher levels of share growth.