The earnings call highlighted Virtu Financial's strong performance with record trading income, growth in key segments like ETFs and digital assets, and a successful leadership transition. However, there were some concerns regarding market penetration and regulatory uncertainties. Overall, the positive aspects significantly outweighed the challenges.

Company Guidance -

Q3 2025

In the Virtu Financial 2025 Second Quarter Results call, the company reported robust performance metrics, achieving $568 million in adjusted net trading income, which equates to $9.2 million per day, alongside an adjusted EPS of $1.53. Market Making contributed $451 million, while Execution Services added $116 million, marking consistent growth with six consecutive quarters of increasing adjusted net trading income. The company also highlighted its growth initiatives, which reached a record high of $1.3 million per day, or 15% of the total adjusted net trading income per day. Virtu's adjusted EBITDA margin stood at 65%, with adjusted cash operating expenses at $198 million and a compensation ratio of 19% including cash, and 23% when including stock. The company reported a debt to LTM adjusted EBITDA ratio of 1.5x and repurchased $66 million worth of shares in the quarter. Looking ahead, Virtu is optimistic about opportunities in digital assets, overnight equity trading, and tokenization, which are expected to further drive growth.

Record Adjusted Net Trading Income

Virtu Financial recorded $568 million in adjusted net trading income, marking a significant increase from previous periods, with $9.2 million per day.

Strong Performance Across Market Making and Execution Services

Market Making contributed $451 million, while Execution Services contributed $116 million in adjusted net trading income.

Growth in ETF Block Franchise and Digital Assets

The ETF block franchise and global digital asset desk reached an all-time high, with digital assets expanding to cover more markets and asset classes.

Record Adjusted EBITDA Margin

Achieved an adjusted EBITDA margin of 65%, the highest since Q1 2022, through disciplined expense management and operational efficiency.

Continued Share Repurchase Program

Repurchased 1.7 million shares for $66 million in Q2 2025, totaling $1.4 billion in share repurchases since program inception.

Leadership Transition

CEO Douglas Cifu announced his retirement, and Aaron Simons, Chief Technology Officer, will take over, ensuring continuity and fresh strategic vision.

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
Oct 30, 2025	2025 (Q3)	1.02 / -	0.82	―	―	―
Jul 30, 2025	2025 (Q2)	1.37 / 1.53	0.83	84.34% (+0.70)
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)

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
Jul 30, 2025	$44.04	$44.79	+1.70%
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%

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 Inc. (VIRT) report earnings?

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

What is Virtu Financial Inc. (VIRT) earnings time?

Virtu Financial Inc. (VIRT) earnings time is at Oct 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 (Q3) is 1.02.

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