Virtu Financial, Inc. (NASDAQ:VIRT), a provider of financial services and products that leverages cutting-edge technology to deliver innovative, transparent trading solutions to its clients and liquidity in global markets, today announced results for the first quarter ended March 31, 2024.
Total revenue rose 3.6% to $642.8 million for the first quarter of 2024, compared to $620.4 million for the same period in 2023.
Net trading income fell 1.1% to $408.1 million for the first three months of 2024 compared to $412.5 million for the same period in 2023. Net income was $111.3 million for that quarter, compared to net income of $110.1 million in the prior-year quarter .
Basic and diluted earnings per share for this quarter were $0.59, compared to basic and diluted earnings per share of $0.56 for the same period in 2023.
Adjusted net trading income fell 1.7% to $366.9 million for this quarter, compared to $373.1 million for the same period in 2023. Adjusted EBITDA fell 2.2% to $202.8 million for this quarter, compared to $207.5 million for the same period in 2023 Normalized. Net Income, excluding non-recurring and non-cash items, fell 2.6% to $124.3 million for this quarter, compared to $127.6 million for the same period in 2023.
Assuming all noncontrolling interests had been exchanged for common stock and the Company’s Normalized Adjusted Net Income before income taxes subject to corporate taxes, Normalized Adjusted EPS was $0.76 for this quarter, compared to $0.74 for the same period in 2023.
