Virtu Financial (VIRT) Q1 FY2024 earnings: revenue $643 million, up 3.6% on the year

Virtu Financial, Inc. (VIRT) reported revenue of $643 million for Q1 FY2024, the quarter ended 31 March 2024, up 3.6% on the same quarter a year earlier. Net income was $56 million, down 3.6% on the year, and diluted earnings per share $0.59. The figures are the company's own, from the 10-Q it filed with the SEC on 26 April 2024.

Revenue$643 millionup 3.6%

Net income$56 milliondown 3.6%

Diluted EPS$0.59

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	643	536	n/a	n/a
Operating income	140	16.8	n/a	n/a
Operating margin	21.8%	3.1%	n/a
Interest expense	23.2	24.8	n/a	n/a
Pre-tax income	140	16.8	n/a	n/a
Income tax	28.5	10.1	n/a	n/a
Effective tax rate	20.4%	60.1%	n/a
Net income	55.8	5.5	n/a	n/a
Net margin	8.7%	1.0%	n/a
Diluted EPS	$0.59	$0.05	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	-395	348	n/a	n/a
Capital expenditure	2.8	13.5	n/a	n/a
Free cash flow	-398	335	n/a	n/a
Free cash flow margin	-61.9%	62.4%	n/a
Cash from investing	-27.5	-24.0	n/a	n/a
Cash from financing	0.4	-200	n/a	n/a
Share-based compensation	15.0	16.8	n/a	n/a
Buybacks	0.0	1.6	n/a	n/a
Dividend per share	$0.24	n/a	n/a	n/a
Diluted shares, weighted	89m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	1,212	1,203	n/a	n/a
Non-controlling interest	212	203	n/a	n/a
Debt	1,727	1,727	n/a	n/a
Other liabilities	9,639	11,334	n/a	n/a
Total liabilities and equity	12,790	14,466	n/a	n/a
Goodwill	1,149	1,149	n/a	n/a
Intangible assets	243	258	n/a	n/a
Securities borrowed	1,783	1,722	n/a	n/a
Cash and equivalents	400	820	n/a	n/a
Other assets	9,215	10,517	n/a	n/a
Total assets	12,790	14,466	n/a	n/a

Questions

What was Virtu Financial's revenue in Q1 FY2024?

Virtu Financial (VIRT) reported revenue of $643 million for Q1 FY2024, the quarter ended 31 March 2024, up 3.6% on the same quarter a year earlier.

How much did Virtu Financial earn in Q1 FY2024?

Net income for Q1 FY2024 was $56 million, down 3.6% on the year, and diluted earnings per share $0.59.

When did Virtu Financial report Q1 FY2024 results?

Virtu Financial filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 26 April 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	630	536	643	693	707	834	838	1,000	825	970	1,095	1,190
Operating income	138	16.8	140	155	147	203	224	347	180	344	410	343
Operating margin	22%	3%	22%	22%	21%	24%	27%	35%	22%	35%	37%	29%
Interest expense	25.4	24.8	23.2	23.4	24.5	26.6	29.9	32.6	33.3	37.1	34.8	34.8
Pre-tax income	138	16.8	140	155	147	203	224	347	180	344	410	343
Tax rate	15%	60%	20%	18%	19%	13%	15%	16%	17%	18%	15%	17%
Net income	61.9	5.5	55.8	66.6	60.0	94.1	99.7	151	77.6	140	182	151
Net margin	10%	1%	9%	10%	8%	11%	12%	15%	9%	14%	17%	13%
Diluted EPS	$0.63	$0.05	$0.59	$0.71	$0.64	$1.03	$1.08	$1.65	$0.86	$1.54	$1.99	$1.63
Operating cash flow	170	348	-395	491	112	391	15.0	62.8	-68.7	509	-0.1	117
Capital expenditure	2.4	13.5	2.8	3.9	5.9	n/a	5.7	5.2	8.0	3.9	5.6	19.0
Free cash flow	168	335	-398	487	106	n/a	9.2	57.6	-76.7	506	-5.8	98.1
Buybacks	-0.4	1.6	0.0	0.0	0.0	0.0	1.6	0.0	0.0	0.0	0.0	0.0
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 26 April 2024, accession 0001592386-24-000049: the filing on EDGAR. All of Virtu Financial, Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install