MarketAxess Holdings Inc. MKTX is expected to witness a decline in earnings from the year-ago reported figure due to lower revenues when it reports second-quarter 2021 earnings results on Jul 21, 2021.Zacks Consensus EstimateThe consensus estimate for June-quarter earnings of this operator of bond trading platforms is pegged at $1.67 per share, which indicates a decrease of 24.1% from the prior-year period’s reported number.The consensus mark for revenues stands at $184.59 million, suggesting a 0.1% dip from the year-ago quarter’s reported figure.Factors to WatchMarketAxess already released total trading volume of $1.58 trillion for the second quarter, which declined 8.3% year over year and 17%, sequentially. This downside was due to muted bond trading. There was a ramp-down in overall credit market activity from last-year levels due to economic disturbance caused by the pandemic. Year-over-year bond trading declined in the categories of U.S. High-Grade, U.S. High-Yield, U.S. Government Bonds.The company’s bond trading business thrives when credit spread volatility increases. Last year, credit spread volatility was greater than this year and credit spreads in high-grade were also wider. Credit spread widening means more riskiness in the market, which is when bond looks more attractive. Last year, it also witnessed huge debt issuance by corporates. These factors led to a rise in bond trading, which in turn, aided volumes, revenues and earnings growth of the company.MarketAxess earns commission and fees revenues on the bond trading executed on its platforms. Thus, weak trading volumes are expected to have weighed on commission and fees revenues, which constitute 90% of the company’s revenues.Along with pressure on the top line, margins are likely to have been stressed by high expenses. The company expects total expenses for 2021 in the range of $370-$386, which have been revised upward from the previous projection of $362-$382 million.Earnings Surprise HistoryThe company’s earnings beat estimates in three of the last four quarters (missed the mark in one), the average surprise being 2.23%. This is depicted in the chart below:MarketAxess Holdings Inc. Price and EPS Surprise MarketAxess Holdings Inc. price-eps-surprise | MarketAxess Holdings Inc. QuoteHere is what our quantitative model predicts:Our proven model does not predict an earnings beat for MarketAxess this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.Earnings ESP: MarketAxess has an Earnings ESP of 0.00%.Zacks Rank: MarketAxess currently has a Zacks Rank #4 (Sell).Stocks to ConsiderSome stocks worth considering with the apt combination of elements to surpass estimates this reporting cycle are as follows:Cboe Global Markets, Inc. CBOE has an Earnings ESP of +1.34% and a Zack Rank #3, presently.You can see the complete list of today’s Zacks #1 Rank stocks here.Tradeweb Markets Inc. TW has an Earnings ESP of +1.76% and a Zacks Rank #2, presently.Coinbase Global, Inc. COIN has an Earnings ESP of +6.64% and a Zacks Rank of 1, presently. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cboe Global Markets, Inc. (CBOE): Free Stock Analysis Report Tradeweb Markets Inc. (TW): Free Stock Analysis Report MarketAxess Holdings Inc. (MKTX): Free Stock Analysis Report Coinbase Global, Inc. (COIN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research