Virtu Financial (VIRT) Tops Q1 EPS by 79c, Revenues Beat

Virtu Financial (NASDAQ: VIRT) reported Q1 EPS of $2.04, $0.79 better than the analyst estimate of $1.25. Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $509.07 million.

First Quarter 2021:

• Net income of $409.2 million; record Normalized Adjusted Net Income1 of $401.6 million
• Basic earnings per share of $1.91 and diluted earnings per share of $1.89; Normalized Adjusted EPS1 of $2.04
• Record total revenues of $1,012.6 million; Trading income, net, of $812.7 million; Adjusted Net Trading Income1 of $728.0 million
• Adjusted EBITDA1 of $564.7 million; record Adjusted EBITDA Margin1 of 77.6%

"Our remarkable quarter was highlighted by record performance in Virtu Execution Services and robust results in our market making business, which combined to generate a record 77.6% Adjusted EBITDA Margin in the first quarter,” said Douglas Cifu, CEO of Virtu Financial. “These results are consistent with our impressive performance in the first half of 2020 and reflect both the success of our organic growth initiatives and the new level of market activity as driven by continued secular trends in the marketplace. To reflect this performance, and consistent with our long-term strategy of delivering value to our shareholders, our Board of Directors has authorized an additional $300 million in share repurchases."

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

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