Virtu Financial, Inc. announced its financial results for the first quarter ended March 31, 2025, reporting a substantial increase in total revenues to $837.9 million, up 30.4% year-over-year. Trading income, net, surged by 44.6% to $590.0 million, driven by higher trading volumes and increased opportunities across global markets.
The company achieved a net income of $189.6 million and a Normalized Adjusted Net Income of $208.3 million for the quarter. Basic and diluted earnings per share were $1.09 and $1.08, respectively. Normalized Adjusted EPS reached $1.30, a significant increase from $0.76 in Q1 2024, reflecting strong profitability.
Adjusted Net Trading Income increased by 35.5% to $497.1 million, or $8.3 million per day, marking the segment's best performance since Q1 2021. The Market Making segment's Adjusted Net Trading Income rose to $382.0 million ($6.4 million per day), its best quarter in four years, while the Execution Services segment achieved $115.1 million ($1.9 million per day), its highest level since Q1 2022.
Virtu's Board of Directors declared a quarterly cash dividend of $0.24 per share, payable on June 16, 2025. The company continued its share repurchase program, having repurchased approximately 51.9 million shares for about $1,344.2 million since inception, with $375.8 million remaining under the current authorization. As of March 31, 2025, Virtu held $723.7 million in cash and cash equivalents and had $1,768.3 million in long-term debt.
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