Virtu Financial registers slight increase in revenues in Q3 2022
Virtu Financial, Inc. (NASDAQ:VIRT) today reported results for the third quarter ended September 30, 2022.
Total revenues increased 3.1% to $561.0 million for this quarter, compared to $544.3 million for the equivalent period in 2021.
Trading income, net, increased to $397.4 million for the quarter compared to $394.3 million for the same period in 2021. Other, net, decreased to $(1.0) million for this quarter, compared to $4.5 million, for the same period in 2021.
Net income totalled $79.9 million for the third quarter of 2022, compared to net income of $123.1 million in the prior year quarter.
Basic earnings per share for this quarter were $0.38,compared to a basic earnings per share of $0.59 for the same period in 2021. Diluted earnings per share this quarter were $0.37, compared to a diluted earnings per share of $0.59 for the same period in 2021.
Adjusted Net Trading Income decreased 6.6% to $331.1 million for this quarter, compared to $354.4 million for the same period in 2021. Adjusted EBITDA decreased 14.3% to $180.6 million for this quarter, compared to $210.7 million for the same period in 2021.
The Virtu Financial, Inc. Board of Directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on December 15, 2022 to shareholders of record as of December 1, 2022.
Since inception of the program in November 2020 through settlement date October 28, 2022, the Company repurchased approximately 31.1 million shares of Class A Common Stock and Virtu Financial Units for approximately $871.7 million. The Company has approximately $348.3 million remaining capacity for future purchases of shares of Class A Common Stock and Virtu Financial Units under the program.