The call highlighted strong financial performance, especially in trading income and market making, alongside strategic growth in digital assets and new markets. However, concerns about the sustainability of retail activity and technical issues were noted.

Company Guidance -

Q2 2025

During Virtu Financial, Inc.'s first quarter 2025 call, the company provided various key metrics, indicating robust performance and strategic growth. They reported a normalized EPS of $1.30 with total adjusted net trading income per day reaching $8.3 million, marking their highest since 2021. The quarterly EBITDA stood at $320 million, with an impressive EBITDA margin of 64%. The company's market-making segment showed significant strength, achieving its best quarter since early 2021, driven by successes in global non-customer equities, digital assets, and ETN block market-making. Virtu's Execution Services demonstrated resilience with a seven-quarter streak of increasing net trading income. The firm remains optimistic about its VES business, aiming for a $2 million per day run rate, fueled by product enhancements and strategic hires. Moreover, Virtu has been proactive in capital markets, especially with at-the-market offerings, and is expanding in digital assets and ETF block businesses. The company maintained a disciplined approach to cost management, with adjusted operating expenses at $193 million, while actively executing its share repurchase program, reducing share count by 18.9% since its inception.

Record Trading Income

The company reported $1.30 of normalized EPS on total adjusted net trading income per day of $8.3 million, marking the highest net trading income per day since 2021.

Strong EBITDA Performance

Quarterly EBITDA was $320 million with an EBITDA margin of 64%, highlighting the company's healthy financial performance.

Global Market Making Success

Market making operations had their best quarter since 2021, with strong performances particularly in non-customer global equities, digital asset, and ETN block market making franchises.

Execution Services Growth

Virtu Execution Services achieved its seventh consecutive quarter of increasing net trading income, showing resilience across varying market conditions.

Retail Participation Resilience

Retail activity in the market reached levels not seen since 2020, with long-term retail engagement showing a secular uptrend according to the company's data.

Expansion in Asia and Digital Assets

The company expanded its listed options business in Asia and digital asset coverage, demonstrating strategic growth in new markets.

Virtu Financial (VIRT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

VIRT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 30, 2025	2025 (Q2)	1.25 / -	0.83	―	―	―
Apr 23, 2025	2025 (Q1)	1.20 / 1.30	0.76	71.05% (+0.54)
Jan 29, 2025	2024 (Q4)	0.89 / 1.14	0.27	322.22% (+0.87)
Oct 24, 2024	2024 (Q3)	0.79 / 0.82	0.45	82.22% (+0.37)
Jul 18, 2024	2024 (Q2)	0.60 / 0.83	0.37	124.32% (+0.46)
Apr 24, 2024	2024 (Q1)	0.55 / 0.76	0.74	2.70% (+0.02)
Jan 25, 2024	2023 (Q4)	0.40 / 0.27	0.37	-27.03% (-0.10)
Nov 02, 2023	2023 (Q3)	0.41 / 0.45	0.61	-26.23% (-0.16)
Jul 26, 2023	2023 (Q2)	0.36 / 0.37	0.73	-49.32% (-0.36)
Apr 20, 2023	2023 (Q1)	0.59 / 0.74	1.27	-41.73% (-0.53)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

VIRT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 23, 2025	$38.36	$38.88	+1.36%
Jan 29, 2025	$38.44	$39.11	+1.74%
Oct 24, 2024	$31.74	$30.27	-4.63%
Jul 18, 2024	$22.88	$27.18	+18.79%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Virtu Financial (VIRT) report earnings?

Virtu Financial (VIRT) is schdueled to report earning on Jul 30, 2025, Before Open (Confirmed).

What is Virtu Financial (VIRT) earnings time?

Virtu Financial (VIRT) earnings time is at Jul 30, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is VIRT EPS forecast?

VIRT EPS forecast for the fiscal quarter 2025 (Q2) is 1.25.

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