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Latest Virt News

Virtu Financial sees 'particularly' strong results from Asia, says CEO

Apr 29, 2022

Virtu Financial ( VIRT ) saw "particularly" strong results from Asia and ETF market making as well as commodities market making, CEO Douglas Cifu said during Q1 earnings call. The investment banking and brokerage company reported Q1 GAAP EPS of $1.27 (beats by $0.28) and revenue of $701.3M (beats by $217.37M). VIRT, however, was among major losers post Q1 release (-13%). The company has repurchased an "impressive" $732M of shares since the inception of its 2020 share repurchase program. The level of buybacks in Q1 were elevated, because of some opportunistic block trades, opportunity to apply some of the excess proceeds from refinancing to buybacks, etc. On being asked about potential M&A, Co-president and Co-COO Joseph Molluso said they do not see any investment that competes with repurchasing shares, and the situation is not anticipated to change going forward. The company will continue to pay $0.24 in quarterly dividend. To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser. If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.

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