Virtu Financial sees net income rise to $117.6M in Q3 2023
Virtu Financial, Inc. (NASDAQ:VIRT), a provider of financial services and products, today reported results for the third quarter ended September 30, 2023.
Total revenues increased 12.3% to $630.2 million for the third quarter of 2023, compared to $561.0 million for the same period in 2022.
Trading income, net, decreased to $316.1 million for the quarter compared to $397.4 million for the same period in 2022. Other, net increased to $76.1 million for this quarter compared to ($1.0) million for the same period in 2022.
Net income totalled $117.6 million for this quarter, compared to net income of $79.9 million in the prior year quarter.
Basic and diluted earnings per share for this quarter were $0.63, compared to a basic earnings per share of $0.38 and diluted earnings per share of $0.37, for the same period in 2022.
Adjusted Net Trading Income decreased 10.0% to $298.0 million for this quarter, compared to $331.1 million for the same period in 2022. Adjusted EBITDA decreased 22.7% to $139.5 million for this quarter, compared to $180.6 million for the same period in 2022.
The Virtu Financial, Inc. Board of Directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on December 15, 2023 to shareholders of record as of December 1, 2023.