Virtu Financial Posts 10.2% Jump in Q2 Total Revenues

New York-based Virtu Financial, a financial services and technology provider, reported its financial figures for the second quarter of 2022 ending on June 30, indicating a jump in revenues and net income.

More specifically, total revenues reached $604.7 million during the period, up by 10.2% compared to $549.0 million for the same period in 2021. Trading income, net, increased to $395.9 million for the quarter compared to $384.8 million for the same period in 2021. Other, net, increased to $41.7 million for this quarter, compared to $11.5 million, for the same period in 2021, primarily due to gains on strategic investments.

Net income totalled $148.9 million for the second quarter of 2022, compared to net income of $108.9 million in the prior year quarter.

Basic and diluted earnings per share for this quarter were both $0.78, compared to a basic and diluted earnings per share of $0.51 and $0.50, respectively, for the same period in 2021.

Adjusted Net Trading Income increased 4.5% to $357.4 million for this quarter, compared to $341.8 million for the same period in 2021. Adjusted EBITDA increased 6.1% to $209.3 million for this quarter, compared to $197.3 million for the same period in 2021.

Normalized Adjusted Net Income, removing one-time and non-cash items, increased 6.2% to $129.9 million for the second quarter of 2022, compared to $122.3 million for the same period in 2021.