Virtu Financial Posts $812.7 Million Net Trading Income in Q1 2021
New York-based Virtu Financial Inc. (NASDAQ: VIRT), a financial services and technology provider, reported its financial figures for the first quarter of 2021, ending on March 31, indicating a steep rise in revenues and net income.
More specifically, total revenues reached $1,012.6 million, up 1.2% compared to the same period in 2020. Net income came in at $409.2 million, and normalized adjusted net income reached $401.6 million. The company recorded a net trading income of $812.7 million, increased by 1.3%. The number of adjusted net trading income dropped to $728 million, showing a YoY decline of 7.2%. Normalized Adjusted EPS approached $2.04. The adjusted EBITDA for the quarter came in at $564.7 million, down by 0.9 percent.
Commenting on these results, Douglas Cifu, CEO at Virtu , said: “Our remarkable quarter was highlighted by record performance in Virtu Execution Services and robust results in our market-making business, which combined to generate a record 77.6% Adjusted EBITDA Margin in the first quarter. These results are consistent with our impressive performance in the first half of 2020 and reflect both the success of our organic growth initiatives and the new level of market activity as driven by continued secular trends in the marketplace.”
Fazzaco previously reported that, Virtu announced the appointment of Joanne M. Minieri as an independent director. The company looks forward to benefitting from Joanne’s extensive operational experience across financial services as it continues to execute on its growth targets.
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