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

- Company: Tradeweb Markets Inc. (TW)
- Period: 2026-01-01 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-ytd-q2-income-statement
- Chart image: https://plicit.ai/charts/tw-fy2026-ytd-q2-income-statement-sankey.png

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

Income statement for 2026-01-01 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**: 1,176,710,000 US dollars
- **Total expenses**: 644,195,000 US dollars
- **Operating income**: 532,515,000 US dollars
- **Other income (expense), net (calculated)**: 40,595,000 US dollars
- **Income before taxes**: 573,110,000 US dollars
- **Provision for income taxes**: 133,257,000 US dollars
- **Net income**: 439,853,000 US dollars
- **LSEG market data fees - Variable**: 0 US dollars
- **LSEG market data fees - Fixed**: 53,238,000 US dollars
- **Subscription fees - Variable**: 1,000,000 US dollars
- **Subscription fees - Fixed**: 120,997,000 US dollars
- **Transaction fees and commissions - Variable**: 887,324,000 US dollars
- **Transaction fees and commissions - Fixed**: 101,844,000 US dollars
- **Other - Variable**: 6,528,000 US dollars
- **Other - Fixed**: 5,779,000 US dollars
- **Employee compensation and benefits**: 370,255,000 US dollars
- **Depreciation and amortization**: 122,196,000 US dollars
- **Technology and communications**: 81,525,000 US dollars
- **General and administrative**: 28,560,000 US dollars
- **Professional fees**: 25,089,000 US dollars
- **Occupancy**: 16,570,000 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.: $386.60 M; to noncontrolling interests: $53.25 M.

## Chart details: Revenue by Product and Service

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

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

- **Total revenue**: 1,176,710,000 US dollars
- **Total expenses**: 644,195,000 US dollars
- **Operating income**: 532,515,000 US dollars
- **Other income (expense), net (calculated)**: 40,595,000 US dollars
- **Income before taxes**: 573,110,000 US dollars
- **Provision for income taxes**: 133,257,000 US dollars
- **Net income**: 439,853,000 US dollars
- **Transaction fees and commissions**: 989,168,000 US dollars
- **Subscription fees**: 121,997,000 US dollars
- **LSEG market data fees**: 53,238,000 US dollars
- **Other**: 12,307,000 US dollars
- **Employee compensation and benefits**: 370,255,000 US dollars
- **Depreciation and amortization**: 122,196,000 US dollars
- **Technology and communications**: 81,525,000 US dollars
- **General and administrative**: 28,560,000 US dollars
- **Professional fees**: 25,089,000 US dollars
- **Occupancy**: 16,570,000 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.: $386.60 M; to noncontrolling interests: $53.25 M.

## Chart details: Revenue by Business Segment by Customer

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

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

- **Total revenue**: 1,176,710,000 US dollars
- **Total expenses**: 644,195,000 US dollars
- **Operating income**: 532,515,000 US dollars
- **Other income (expense), net (calculated)**: 40,595,000 US dollars
- **Income before taxes**: 573,110,000 US dollars
- **Provision for income taxes**: 133,257,000 US dollars
- **Net income**: 439,853,000 US dollars
- **Reportable Segment - Corporates**: 50,520,000 US dollars
- **Reportable Segment - Institutional**: 760,280,000 US dollars
- **Reportable Segment - Market Data**: 74,215,000 US dollars
- **Reportable Segment - Retail**: 66,499,000 US dollars
- **Reportable Segment - Wholesale**: 225,196,000 US dollars
- **Employee compensation and benefits**: 370,255,000 US dollars
- **Depreciation and amortization**: 122,196,000 US dollars
- **Technology and communications**: 81,525,000 US dollars
- **General and administrative**: 28,560,000 US dollars
- **Professional fees**: 25,089,000 US dollars
- **Occupancy**: 16,570,000 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.: $386.60 M; to noncontrolling interests: $53.25 M.

## Chart details: Revenue by Geography

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

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

- **Total revenue**: 1,176,710,000 US dollars
- **Total expenses**: 644,195,000 US dollars
- **Operating income**: 532,515,000 US dollars
- **Other income (expense), net (calculated)**: 40,595,000 US dollars
- **Income before taxes**: 573,110,000 US dollars
- **Provision for income taxes**: 133,257,000 US dollars
- **Net income**: 439,853,000 US dollars
- **UNITED STATES**: 657,528,000 US dollars
- **International**: 519,182,000 US dollars
- **Employee compensation and benefits**: 370,255,000 US dollars
- **Depreciation and amortization**: 122,196,000 US dollars
- **Technology and communications**: 81,525,000 US dollars
- **General and administrative**: 28,560,000 US dollars
- **Professional fees**: 25,089,000 US dollars
- **Occupancy**: 16,570,000 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.: $386.60 M; to noncontrolling interests: $53.25 M.

## Chart details: Revenue by Basis of Pricing

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

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

- **Total revenue**: 1,176,710,000 US dollars
- **Total expenses**: 644,195,000 US dollars
- **Operating income**: 532,515,000 US dollars
- **Other income (expense), net (calculated)**: 40,595,000 US dollars
- **Income before taxes**: 573,110,000 US dollars
- **Provision for income taxes**: 133,257,000 US dollars
- **Net income**: 439,853,000 US dollars
- **Variable**: 894,852,000 US dollars
- **Fixed**: 281,858,000 US dollars
- **Employee compensation and benefits**: 370,255,000 US dollars
- **Depreciation and amortization**: 122,196,000 US dollars
- **Technology and communications**: 81,525,000 US dollars
- **General and administrative**: 28,560,000 US dollars
- **Professional fees**: 25,089,000 US dollars
- **Occupancy**: 16,570,000 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.: $386.60 M; to noncontrolling interests: $53.25 M.