Virtu Financial Second Quarter 2024 Earnings: Beats Expectations

Virtu Financial (NASDAQ:VIRT) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$521.6m (up 43% from 2Q 2023).

• Net income: US$66.6m (up 329% from 2Q 2023).

• Profit margin: 13% (up from 4.2% in 2Q 2023). The increase in margin was driven by higher revenue.

• EPS: US$0.76 (up from US$0.16 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Virtu Financial Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 51%.

Looking ahead, revenue is expected to decline by 8.5% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in the US are expected to grow by 5.7%.

Performance of the American Capital Markets industry.

The company’s shares are up 28% from a week ago.

Risk Analysis

Be aware that Virtu Financial is showing 1 warning sign in our investment analysis that you should know about…

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