Virtu Financial Inc
For the period ended Sep 30, 2024. Filed Oct 28, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 28, 2024
VIRT$57.75+2.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Comprehensive Income (Unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in thousands, except share and per share data) | 2024 | 2023 | 2024 | 2023 |
| Revenues: | ||||
| Trading income, net | $443,997 | $316,085 | $1,278,487 | $1,034,764 |
| Interest and dividends income | 125,229 | 127,693 | 338,287 | 307,916 |
| Commissions, net and technology services | 131,621 | 110,276 | 376,333 | 341,223 |
| Other, net | 5,993 | 76,110 | 49,557 | 73,493 |
| Total revenue | 706,840 | 630,164 | 2,042,664 | 1,757,396 |
| Operating Expenses: | ||||
| Brokerage, exchange, clearance fees and payments for order flow, net | 176,745 | 123,245 | 467,331 | 391,238 |
| Communication and data processing | 59,601 | 57,066 | 177,110 | 170,837 |
| Employee compensation and payroll taxes | 107,646 | 97,221 | 314,185 | 296,214 |
| Interest and dividends expense | 136,070 | 132,802 | 385,791 | 342,896 |
| Operations and administrative | 24,939 | 22,416 | 69,346 | 72,204 |
| Depreciation and amortization | 16,486 | 15,815 | 48,640 | 47,076 |
| Amortization of purchased intangibles and acquired capitalized software | 11,848 | 15,967 | 38,688 | 48,007 |
| Termination of office leases | 17 | 364 | 50 | 314 |
| Debt issue cost related to debt refinancing, prepayment and commitment fees | 1,767 | 1,796 | 27,740 | 5,744 |
| Transaction advisory fees and expenses | 69 | 6 | 264 | 30 |
| Financing interest expense on long-term borrowings | 24,492 | 25,361 | 71,154 | 74,499 |
| Total operating expenses | 559,680 | 492,059 | 1,600,299 | 1,449,059 |
| Income before income taxes and noncontrolling interest | 147,160 | 138,105 | 442,365 | 308,337 |
| Provision for income taxes | 28,137 | 20,512 | 83,917 | 51,117 |
| Net income | 119,023 | 117,593 | 358,448 | 257,220 |
| Noncontrolling interest | (59,071) | (55,678) | (176,093) | (120,722) |
| Net income available for common stockholders | $59,952 | $61,915 | $182,355 | $136,498 |
| Earnings per share | ||||
| Basic | $0.65 | $0.63 | $1.95 | $1.36 |
| Diluted | $0.64 | $0.63 | $1.95 | $1.36 |
| Weighted average common shares outstanding | ||||
| Basic | 87,152,658 | 93,408,537 | 88,093,082 | 95,376,590 |
| Diluted | 87,536,847 | 93,408,537 | 88,340,592 | 95,376,590 |
| Net income | $119,023 | $117,593 | $358,448 | $257,220 |
| Other comprehensive income | ||||
| Foreign exchange translation adjustment, net of taxes | 6,835 | (4,005) | 3,745 | 170 |
| Net change in unrealized cash flow hedges gain (loss), net of taxes | (19,568) | (7,646) | (30,931) | (12,612) |
| Comprehensive income | 106,290 | 105,942 | 331,262 | 244,778 |
| Less: Comprehensive income attributable to noncontrolling interest | (54,083) | (50,832) | (164,990) | (115,557) |
| Comprehensive income attributable to common stockholders | $52,207 | $55,110 | $166,272 | $129,221 |
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