Virtu Financial Q1 2020 Earnings Report
Key Takeaways
Virtu Financial's Q1 2020 results showed a significant increase in revenue and net income, driven by heightened market volatility and trading volumes due to the COVID-19 pandemic. Total revenues increased by 176.6% to $1,004.1 million, and net income totaled $388.2 million, compared to a net loss in the prior year quarter.
Total revenues increased 176.6% to $1,004.1 million.
Trading income, net, increased 211.6% to $802.5 million.
Net income totaled $388.2 million, compared to a net loss of $13.6 million in the prior year quarter.
Basic and diluted earnings per share was $1.80, compared to a loss per share of $0.07 for the same period in 2019.
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Virtu Financial Revenue by Segment
Forward Guidance
While the long term impact on markets and the global economy is not known, Virtu is confident that they will apply what they’ve learned thus far and emerge even stronger as a company and continue to deliver long term value to their clients and shareholders.