# Tradeweb Markets Inc. (TW) FY2026 Q2 P&L / Income Statement

- Company: Tradeweb Markets Inc. (TW)
- Period: 2026-04-01 to 2026-06-30
- Filing: Q2 FY2026 10-Q, filed 2026-07-30, accession number 0001758730-26-000133
- Page: https://plicit.ai/financials/tw/fy2026-q2-income-statement
- Chart image: https://plicit.ai/charts/tw-fy2026-q2-income-statement-sankey.png

## Chart details: Revenue by Product and Service by Basis of Pricing

Income statement for 2026-04-01 through 2026-06-30. View: Product and Service by Contract with Customer, Basis of Pricing. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Total revenue**: 558,946,000 US dollars
- **Total expenses**: 313,684,000 US dollars
- **Operating income**: 245,262,000 US dollars
- **Other income (expense), net (calculated)**: 24,924,000 US dollars
- **Income before taxes**: 270,186,000 US dollars
- **Provision for income taxes**: 63,500,000 US dollars
- **Net income**: 206,686,000 US dollars
- **LSEG market data fees - Variable**: 0 US dollars
- **LSEG market data fees - Fixed**: 26,496,000 US dollars
- **Subscription fees - Variable**: 500,000 US dollars
- **Subscription fees - Fixed**: 61,224,000 US dollars
- **Transaction fees and commissions - Variable**: 414,226,000 US dollars
- **Transaction fees and commissions - Fixed**: 51,109,000 US dollars
- **Other - Variable**: 2,434,000 US dollars
- **Other - Fixed**: 2,957,000 US dollars
- **Employee compensation and benefits**: 172,462,000 US dollars
- **Depreciation and amortization**: 61,487,000 US dollars
- **Technology and communications**: 41,976,000 US dollars
- **General and administrative**: 16,616,000 US dollars
- **Professional fees**: 12,765,000 US dollars
- **Occupancy**: 8,378,000 US dollars

### Chart connections

- Revenue minus operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Of which attributable to Tradeweb Markets Inc.: $181.32 M; to noncontrolling interests: $25.37 M.

## Chart details: Revenue by Product and Service

- Page: https://plicit.ai/financials/tw/fy2026-q2-income-statement/revenue-by-product-and-service
- Chart image: https://plicit.ai/charts/tw-fy2026-q2-revenue-by-product-and-service-sankey.png

Income statement for 2026-04-01 through 2026-06-30. View: Product and service. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Total revenue**: 558,946,000 US dollars
- **Total expenses**: 313,684,000 US dollars
- **Operating income**: 245,262,000 US dollars
- **Other income (expense), net (calculated)**: 24,924,000 US dollars
- **Income before taxes**: 270,186,000 US dollars
- **Provision for income taxes**: 63,500,000 US dollars
- **Net income**: 206,686,000 US dollars
- **Transaction fees and commissions**: 465,335,000 US dollars
- **Subscription fees**: 61,724,000 US dollars
- **LSEG market data fees**: 26,496,000 US dollars
- **Other**: 5,391,000 US dollars
- **Employee compensation and benefits**: 172,462,000 US dollars
- **Depreciation and amortization**: 61,487,000 US dollars
- **Technology and communications**: 41,976,000 US dollars
- **General and administrative**: 16,616,000 US dollars
- **Professional fees**: 12,765,000 US dollars
- **Occupancy**: 8,378,000 US dollars

### Chart connections

- Revenue minus operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Of which attributable to Tradeweb Markets Inc.: $181.32 M; to noncontrolling interests: $25.37 M.

## Chart details: Revenue by Business Segment by Customer

- Page: https://plicit.ai/financials/tw/fy2026-q2-income-statement/revenue-by-business-segment-by-customer
- Chart image: https://plicit.ai/charts/tw-fy2026-q2-revenue-by-business-segment-by-customer-sankey.png

Income statement for 2026-04-01 through 2026-06-30. View: Business segment by customer. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Total revenue**: 558,946,000 US dollars
- **Total expenses**: 313,684,000 US dollars
- **Operating income**: 245,262,000 US dollars
- **Other income (expense), net (calculated)**: 24,924,000 US dollars
- **Income before taxes**: 270,186,000 US dollars
- **Provision for income taxes**: 63,500,000 US dollars
- **Net income**: 206,686,000 US dollars
- **Reportable Segment - Corporates**: 23,630,000 US dollars
- **Reportable Segment - Institutional**: 355,355,000 US dollars
- **Reportable Segment - Market Data**: 37,288,000 US dollars
- **Reportable Segment - Retail**: 33,064,000 US dollars
- **Reportable Segment - Wholesale**: 109,609,000 US dollars
- **Employee compensation and benefits**: 172,462,000 US dollars
- **Depreciation and amortization**: 61,487,000 US dollars
- **Technology and communications**: 41,976,000 US dollars
- **General and administrative**: 16,616,000 US dollars
- **Professional fees**: 12,765,000 US dollars
- **Occupancy**: 8,378,000 US dollars

### Chart connections

- Revenue minus operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Of which attributable to Tradeweb Markets Inc.: $181.32 M; to noncontrolling interests: $25.37 M.

## Chart details: Revenue by Geography

- Page: https://plicit.ai/financials/tw/fy2026-q2-income-statement/revenue-by-geography
- Chart image: https://plicit.ai/charts/tw-fy2026-q2-revenue-by-geography-sankey.png

Income statement for 2026-04-01 through 2026-06-30. View: Geography. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Total revenue**: 558,946,000 US dollars
- **Total expenses**: 313,684,000 US dollars
- **Operating income**: 245,262,000 US dollars
- **Other income (expense), net (calculated)**: 24,924,000 US dollars
- **Income before taxes**: 270,186,000 US dollars
- **Provision for income taxes**: 63,500,000 US dollars
- **Net income**: 206,686,000 US dollars
- **UNITED STATES**: 313,876,000 US dollars
- **International**: 245,070,000 US dollars
- **Employee compensation and benefits**: 172,462,000 US dollars
- **Depreciation and amortization**: 61,487,000 US dollars
- **Technology and communications**: 41,976,000 US dollars
- **General and administrative**: 16,616,000 US dollars
- **Professional fees**: 12,765,000 US dollars
- **Occupancy**: 8,378,000 US dollars

### Chart connections

- Revenue minus operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Of which attributable to Tradeweb Markets Inc.: $181.32 M; to noncontrolling interests: $25.37 M.

## Chart details: Revenue by Basis of Pricing

- Page: https://plicit.ai/financials/tw/fy2026-q2-income-statement/revenue-by-basis-of-pricing
- Chart image: https://plicit.ai/charts/tw-fy2026-q2-revenue-by-basis-of-pricing-sankey.png

Income statement for 2026-04-01 through 2026-06-30. View: Contract with Customer, Basis of Pricing. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Total revenue**: 558,946,000 US dollars
- **Total expenses**: 313,684,000 US dollars
- **Operating income**: 245,262,000 US dollars
- **Other income (expense), net (calculated)**: 24,924,000 US dollars
- **Income before taxes**: 270,186,000 US dollars
- **Provision for income taxes**: 63,500,000 US dollars
- **Net income**: 206,686,000 US dollars
- **Variable**: 417,160,000 US dollars
- **Fixed**: 141,786,000 US dollars
- **Employee compensation and benefits**: 172,462,000 US dollars
- **Depreciation and amortization**: 61,487,000 US dollars
- **Technology and communications**: 41,976,000 US dollars
- **General and administrative**: 16,616,000 US dollars
- **Professional fees**: 12,765,000 US dollars
- **Occupancy**: 8,378,000 US dollars

### Chart connections

- Revenue minus operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Of which attributable to Tradeweb Markets Inc.: $181.32 M; to noncontrolling interests: $25.37 M.