Yahoo Finance Virtu Financial First Quarter 2024 Earnings: Beats Expectations
Virtu Financial (NASDAQ:VIRT) First Quarter 2024 Results
Key Financial Results
Revenue: US$491.9m (flat on 1Q 2023).
Net income: US$55.8m (up 1.1% from 1Q 2023).
Profit margin: 11% (in line with 1Q 2023).
EPS: US$0.63 (up from US$0.56 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Virtu Financial Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 122%.
Looking ahead, revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in the US are expected to grow by 6.8%.
Performance of the American Capital Markets industry.
The company's shares are up 6.6% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 1 warning sign for Virtu Financial that you need to be mindful of.
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