How does TW's Q4 performance compare to past quarters?

Tradeweb Markets (TW) experienced a decline in both revenue and net income in Q4 compared to the previous quarter, indicating a challenging period for the company:

1. **Revenue Comparison**:
- Q4's total revenue was $463.34 million, which is higher than the revenue in Q3 ($448.92 million). However, it is important to note that this increase is not as significant as the growth seen in previous quarters.
- The revenue in Q2 was $408.74 million, and in Q1, it was $404.95 million. The progression shows a slight improvement from Q1 to Q2, but a decrease from Q2 to Q3 before a slight increase to Q4.
2. **Net Income Comparison**:
- Q4's net income was $159.94 million, which is the highest among the four quarters. This indicates a strong profitability period for the company.
- The net income in Q3 was $143.38 million, in Q2 was $136.42 million, and in Q1 was $130.22 million. The trend shows a gradual increase from Q1 to Q4, with a more significant jump from Q3 to Q4.
3. **Overall Performance Analysis**:
- While the revenue in Q4 showed a positive trend compared to Q3, the net income in Q4 was significantly better than the previous quarter, suggesting that the company was more profitable in Q4 than in the past.
- The peak net income in Q4 highlights the company's strong financial performance during this period, despite a slight dip in revenue compared to the immediate previous quarter.

In conclusion, TW's Q4 performance demonstrates resilience and a positive financial trajectory, with a notable increase in net income compared to the previous quarter, although revenue growth was more modest.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|TW|TW.O|Tradeweb Markets|2024 Q1|24.142821997940768|4.08739E8|185|
|TW|TW.O|Tradeweb Markets|2024 Q2|30.371555601343154|4.04951E8|185|
|TW|TW.O|Tradeweb Markets|2024 Q3|36.71552608898242|4.48915E8|185|
|TW|TW.O|Tradeweb Markets|2024 Q4|25.22810810810811|4.63344E8|185|

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|TW|TW.O|Tradeweb Markets|2024 Q1|40.30510896049632|1.43382E8|185|
|TW|TW.O|Tradeweb Markets|2024 Q2|33.821206800145184|1.36416E8|185|
|TW|TW.O|Tradeweb Markets|2024 Q3|16.655916868225386|1.30223E8|185|
|TW|TW.O|Tradeweb Markets|2024 Q4|54.17433801486394|1.59942E8|185|