Virtu Financial (VIRT) Misses Q3 EPS by 12c, Beats on Revenues

Virtu Financial (NASDAQ: VIRT) reported Q3 EPS of ($0.08), $0.12 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $271.3 million versus the consensus estimate of $163.64 million.

Reported results include KCG from July 20 through September 30, 2017

• Net loss of $40.0 million, burdened by costs associated with the KCG acquisition and amortization of purchased intangibles; Normalized Adjusted Net Income* of $22.2 million
• Basic and Diluted loss per share of $0.17; Normalized Adjusted EPS* of $0.08
• Total revenues of $271.3 million; Adjusted Net Trading Income* of $159.8 million
• Adjusted EBITDA* of $58.9 million; Adjusted EBITDA Margin* of 36.8%
• KCG integration on track; Expense and Capital Synergy progress ahead of plan
• Made total to-date voluntary pre-payments of $200 million on the $1.15B term loan debt incurred in connection with KCG acquisition
• Quarterly cash dividend of $0.24 per share payable on December 15, 2017

For earnings history and earnings-related data on Virtu Financial (VIRT) click here.

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