Virtu Financial's Q3 Total Revenues Climb 24.3% QoQ

The leading global market maker Virtu Financial has released its financial results for the third quarter of 2023 (Q3 2023), indicating a rise in total revenues both on a yearly and quarterly basis.

The company's total revenues for the period reached $630.2 million, up 12.3% from Q3 2022's $561.0 million. Compared to Q2 2023​'s $506.9 million, the figure surged 24.3%.

The Q3 net income surged 47.2% from $79.9 million in the year-ago quarter to $117.6 million. Trading income, net, however, fell 20.1% year-over-year to $316.1 million, with adjusted net trading income down 10.0% to $298.0 million.

Adjusted EBITDA was $139.5 million, 22.7% lower over the last same period’s $180.6 million. Basic and diluted earnings per share (EPS) rose to $0.63 from basic EPS of $0.38 and diluted EPS of $0.37 for the same period in 2022.