Virtu Financial, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting a 12.2% increase in total revenues to $706.8 million, up from $630.2 million in the same period of 2023. Trading income, net, saw a substantial rise of 40.5% to $444.0 million for the quarter, compared to $316.1 million in the prior year quarter.
The company's Adjusted Net Trading Income increased by 30.2% to $388.0 million for the quarter, up from $298.0 million in Q3 2023. Normalized Adjusted EPS reached $0.82, a significant increase from $0.45 in the third quarter of 2023, indicating improved profitability after removing one-time and non-cash items. Adjusted EBITDA also grew by 54.0% to $214.8 million.
Virtu's Board of Directors declared a quarterly cash dividend of $0.24 per share, payable on December 15, 2024. The company also continued its share repurchase program, having repurchased approximately 49.2 million shares of Class A Common Stock and Virtu Financial Units for about $1,240.7 million since its inception in November 2020, with $479.3 million remaining under the current authorization.
As of September 30, 2024, Virtu maintained a strong financial position with $738.2 million in cash, cash equivalents, and restricted cash. Total long-term debt outstanding was approximately $1,769.4 million. These financial metrics demonstrate the company's ability to generate cash and manage its capital structure effectively.
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