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Jun 30, 2024
Virtus Q2 2024 Earnings Report
Virtus reported mixed results with increased operating income but decreased net income, reflecting market performance and strategic transactions.
Key Takeaways
Virtus Investment Partners reported a 5% increase in revenues and a 13% increase in operating income compared to the same quarter last year. However, net income attributable to Virtus Investment Partners decreased by 42%. Adjusted EPS increased to $6.53 from $5.41 in the previous quarter. Total assets under management decreased by 3% from the previous quarter to $173.6 billion, influenced by market performance and net outflows.
Revenues increased by 5% year-over-year to $224.4 million.
Operating income increased by 13% year-over-year to $44.2 million.
Earnings per share (diluted) decreased to $2.43 from $4.10 in the prior year.
Assets under management decreased to $173.6 billion, a 3% decrease from the previous quarter.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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