Virtu Financial, Inc. (NASDAQ:VIRT) shares are trading lower on Thursday.
The company reported third-quarter adjusted earnings per share of 82 cents, beating the analyst consensus estimate of 79 cents. Quarterly revenues increased to $706.84 million, up 12.2% from the prior year.
Trading income, net, surged 40.5% to $444.0 million for the quarter, up from $316.1 million in the same period last year.
Adjusted net trading income rose 30.2% to $388.03 million this quarter, up from $298.0 million in the same period last year and above the consensus of $376.04 million.
Adjusted EBITDA increased 54% to $214.8 million for this quarter, with a corresponding margin of 55.4%.
As of September 30, Virtu had $738.2 million in cash and equivalents and total long-term debt outstanding in an aggregate principal amount of $1.769 billion.
Also Read: Delivery Giant UPS Breaks Revenue-Miss Streak After 10 Quarters, Stock Soars
Since the program’s inception in November 2020 through the settlement date of October 22, the company has repurchased approximately 49.2 million shares of Class A Common Stock and Virtu Financial Units for about $1.240 billion.
The company has approximately $479.3 million remaining for future purchases under the program.
Dividend: The company declared a quarterly cash dividend of 24 cents per share. This dividend is payable on December 15, to shareholders of record as of December 1.
Price Action: VIRT shares are trading lower by 6.18% to $30.35 at last check Thursday.
Read Next:
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.