Virtu Financial Q3 2024 Net Income – $119.0M

Virtu Financial, Inc. (NASDAQ: VIRT) has released its third-quarter 2024 results, revealing a net income of $119.0 million. The normalized adjusted net income stood at $132.1 million, showing an increase from the previous period. Basic and diluted earnings per share were reported at $0.65 and $0.64, respectively, with normalized adjusted EPS at $0.82.

The total revenues for the quarter amounted to $706.8 million, with trading income, net, reaching $444.0 million. Notably, the net income margin was 16.8%. Adjusted net trading income was reported at $388.0 million, indicating a significant change from the previous period.

Furthermore, adjusted EBITDA reached $214.8 million, with an adjusted EBITDA margin of 55.4%. The company also executed share buybacks totaling $48.4 million, equivalent to 1.7 million shares, under the share repurchase program.

The board of directors at Virtu Financial, Inc. declared a quarterly cash dividend of $0.24 per share, payable on December 15, 2024, to shareholders of record as of December 1, 2024.

These results reflect the company's strong performance in the third quarter of 2024, with notable improvements in various financial metrics. As a result of these announcements, the company's shares have moved -4.2% on the market, and are now trading at a price of $31.0. For more information, read the company's full 8-K submission here.

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