Virtu reported $704 million in adjusted trading income and $438 million in adjusted EBITDA, and both trading units performed well as activity declined. The $500 million borrowing and planned hiring and infrastructure spending add costs, but the results and $3.4 billion trading capital base favor the company.
Diversified trading strategies helped both of Virtu’s trading units perform well even as market activity fell. The new borrowing expanded its trading capital to $3.4 billion, but also increased debt. Continued hiring and spending on technology add costs, yet the reported results support a favorable read.
Follow Virtu Financial (VIRT) free. When we publish a story about it, you get the plain-English explanation as an alert.
Get alerts for VIRT