Virtu Financial Posts $604.7 Million in Revenues for Q2 2022

Nasdaq-listed financial services provider, Virtu Financial published its quarterly results for Q2 2022 today. In the reported period, Virtu saw revenues worth $604.7 million, which is up 10.2% compared to the same period last year.

For the quarter ended 30 June 2022, the company’s net income touched $148.9 million, compared to $108.9 million in the same period last year. Virtu Financial posted diluted earnings per share of $0.78 for the last quarter.

Virtu witnessed solid growth across different segments. The company’s adjusted net trading income increased 4.5% to $357.4 million. Adjusted EBITDA climbed 6.1% to $209.3 million.

“Normalized Adjusted Net Income, removing one-time and non-cash items, increased 6.2% to $129.9 million for this quarter, compared to $122.3 million for the same period in 2021. Assuming all non-controlling interests had been exchanged for common stock, and the Company’s Normalized Adjusted Net Income before income taxes was subject to corporation taxes, the Normalized Adjusted EPS was $0.73 for this quarter, compared to $0.63 for the same period in 2021,” Virtu Financial added.

Share Repurchase Program

In addition to financial results, Virtu published details about the company’s share repurchase program. According to the details shared by Virtu, the firm repurchased almost 27.4 million shares since November 2020.

“Since the inception of the program in November 2020 through settlement date July 27, 2022, the Company repurchased approximately 27.4 million shares of Class A Common Stock and Virtu Financial Units for approximately $787.8 million. The Company has approximately $432.2 million remaining capacity for future purchases of shares of Class A Common Stock and Virtu Financial Units under the program,” Virtu added.