Virtu Financial Reports Financial Results in Q3 2020

​Virtu Financial, Inc. (NASDAQ: VIRT), a financial services and technology provider, recently announced its financial results for the third quarter of 2020 ended September 30, 2020, showing a steep rise in revenues.

Key Financial Highlights For Q3 2020

• Net income for the Quarter of $199.7 million compared to a net loss of $5.2 million in the prior year quarter

• Normalized Adjusted Net Income for the Quarter of $160.9 million

• Basic and diluted earnings per share for the Quarter of $0.92

• Normalized Adjusted EPS for the Quarter of $0.81

• Total revenues for the Quarter of $656.1 million

• Net trading income nearly doubled to $441.3 million in Q3 2020, compared to $220.1 million for the same period in 2019

• Adjusted Net Trading Income  for the Quarter of $362.3 million

• Adjusted EBITDA for the Quarter of $248.7 million

• Adjusted EBITDA Margin for the Quarter of 68.7%

• Results include $56.2 million net gain on sale of MATCHNow transaction closed on August 4, 2020 

​Management Comments

“Client partnership, providing liquidity to the global capital markets and implementing our strategic initiatives will help Virtu deliver our strongest year on record. Our third quarter results confirm the resilience and scalability of Virtu’s business model; generating meaningful profits consistently.” said Douglas Cifu, Chief Executive Officer.

“Virtu enters the final quarter of an eventful 2020 and looks forward to 2021 well positioned to continue to generate shareholder value. With our revised expense guidance for 2021 and the material reduction in total debt as a result of the strong performance in 2020, we are poised to meaningfully enhance shareholder returns, beginning with up to a $100 million buyback of shares, which our Board of Directors has approved.”