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- NasdaqGS:VIRT
Virtu Financial Second Quarter 2024 Earnings: Beats Expectations
Virtu Financial (NASDAQ:VIRT) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$521.6m (up 43% from 2Q 2023).
- Net income: US$66.6m (up 329% from 2Q 2023).
- Profit margin: 13% (up from 4.2% in 2Q 2023). The increase in margin was driven by higher revenue.
- 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
You still need to take note of risks, for example - Virtu Financial has 1 warning sign we think you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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About NasdaqGS:VIRT
Virtu Financial
Operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally.
Undervalued with proven track record.