Virtu Financial, Inc. (NASDAQ:VIRT), a provider of financial services and products, today announced results for the fourth quarter ended December 31, 2023.
Total revenue rose 7.7% to $536.0 million for the final quarter of 2023, compared to $497.8 million for the same period in 2022. Net trading income fell 14.9% to $266.6 million in the quarter compared to $313.3 million for the same period in 2022.
Net income was $6.7 million for the quarter, compared to net income of $39.6 million in the year-ago quarter.
Basic and diluted earnings per share for this quarter were $0.05, compared to basic and diluted earnings per share of $0.27 for the same period in 2022.
Adjusted net trading income fell 4.8% to $260.9 million for this quarter, compared to $274.1 million for the same period in 2022. Adjusted EBITDA fell 20.7% to $99.0 million for this quarter, compared to $125.4 million for the same period in 2022. Net Income, excluding non-recurring and non-cash items, fell 31.3% to $44.1 million for this quarter, in compared to $64.1 million for the same period in 2022.
From the start of the share repurchase program in November 2020 through the settlement date of January 24, 2024, the company repurchased approximately 44.2 million shares of Class A Common Stock and Virtu Financial Units for approximately $1,121.8 million. The company has approximately $98.2 million of remaining capacity for future purchases of shares of Class A Common Stock and Virtu Financial Units under the program.