Virtu Financial Tops Estimates on Record Revenue
Virtu Financial authorized another $300 million in share repurchases thanks to the strong quarter.
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Fintech company Virtu Financial Inc. (
VIRT) - Get Report reported first-quarter results ahead of analyst expectations on record quarterly revenue.
The New York City based company reported adjusted earnings of $2.04 per share on revenue of $1.01 billion. Analysts were expecting earnings of just $1.28 per share; revenue expectations were not available. Our remarkable quarter was highlighted by record performance in Virtu Execution Services and robust results in our market making business, which combined to generate a record 77.6% Adjusted EBITDA Margin in the first quarter,” said CEO Douglas Cifu in a statement.
Good day, and welcome to the Virtu Financial 2020 Fourth Quarter Earnings Call. [Operator Instructions]
I would now like to turn the conference over to Deborah Belevan, Head of Investor Relations. Please go ahead.
Deborah Belevan
Senior Vice President, Investor Relations and Communications
Thank you, operator, and good morning, everyone. Thanks for joining us. Our fourth quarter and full year results were released this morning and are available on our website. On this morning s call, we ll have Mr. Douglas Cifu, our CEO; Mr. Joe Molluso, our Co-President and Chief Operating Officer; and Sean Galvin, our Chief Financial Officer. They ll begin with some prepared remarks, and then we ll take your questions.