Virtu Financial Second Quarter 2024 Earnings: Beats Expectations
Virtu Financial (NASDAQ:VIRT) Second Quarter 2024 Results
Key Financial Results
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Revenue: US$521.6m (up 43% from 2Q 2023).
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Net income: US$66.6m (up 329% from 2Q 2023).
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Profit margin: 13% (up from 4.2% in 2Q 2023). The increase in margin was driven by higher revenue.
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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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