Virtu reports slight rise in trading income for Q4 2021

Virtu Financial, Inc. (NASDAQ:VIRT) today reported results for the fourth quarter ended December 31, 2021.

Total revenues increased 4.3% to $705.6 million for this quarter, driven primarily by higher trading volumes in U.S. equities, compared to $676.7 million for the same period in 2020. Trading income, net, increased 1.6% to $513.4 million for this quarter, compared to $505.5 million for the same period in 2020. Net income totaled $186.0 million for this quarter, compared to net income of $197.7 million in the prior year quarter.

Basic and diluted earnings per share for this quarter were $0.90 and $0.89, compared to a basic and diluted earnings per share of $0.89 and $0.88, respectively, for the same period in 2020.

Adjusted Net Trading Income increased 6.5% to $485.6 million for this quarter, compared to $455.9 million for the same period in 2020. Adjusted EBITDA decreased 4.5% to $328.4 million for this quarter, compared to $343.9 million for the same period in 2020.

Normalized Adjusted Net Income, removing one-time integration costs and non-cash items, decreased 5.7% to $220.6 million for this quarter, compared to $234.0 million for the same period in 2020.

Since inception of the Share Repurchase Program in November 2020 through January 31, 2022, the company repurchased approximately 17.6 million shares of Class A Common Stock and Virtu Financial Units for approximately $482.8 million. Including the additional $750 million authorization from Virtu Financial Inc’s Board of directors in the fourth quarter, 2021, the Company has approximately $737.2 million remaining capacity for future purchases of shares of Class A Common Stock and Virtu Financial Units under the program.

The Virtu Financial, Inc. Board of Directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on March 15, 2022 to shareholders of record as of March 1, 2022.