Virtu Financial Slips To Loss In Q3

(RTTNews) - Virtu Financial, Inc. (VIRT), a technology-enabled market maker and liquidity provider to the global financial markets, reported that its net loss for the third quarter ended September 30, 2017 was $40.0 million compared to net income $33.0 million for the same period in 2016. Loss per share for the quarter were $0.17, compared to net income per share of $0.18 each for the same period in 2016.

Adjusted Net Trading Income increased 64.4% to $159.8 million for this quarter, compared to $97.2 million for the same period in 2016. Adjusted EBITDA increased 3.5% to $58.9 million for this quarter, compared to $56.9 million for the same period in 2016. Normalized Adjusted Net Income decreased 47.6% to $22.2 million for this quarter, compared to $42.4 million for the same period in 2016.

Total revenues increased 64.6% to $271.3 million for this quarter, compared to $164.8 million for the same period in 2016. Trading income, net, increased 30.1% to $203.9 million for this quarter, compared to $156.7 million for the same period in 2016.

The Virtu Financial, Inc. Board of Directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on December 15, 2017 to shareholders of record as of December 1, 2017.