Virtu Financial (NASDAQ: VIRT) reported Q1 EPS of $0.34, $0.03 worse than the analyst estimate of $0.37. Revenue for the quarter came in at $363 million versus the consensus estimate of $253.95 million.

• Net loss of $13.6 million, as a result of costs associated with the ITG acquisition and amortization of purchased intangibles; Normalized Adjusted Net Income* of $64.6 million
• Basic and diluted loss per share of $0.07; Normalized Adjusted EPS* of $0.34
• Total revenues of $363.0 million; Trading income, net of $257.5 million; Adjusted Net Trading Income* of $228.8 million
• Adjusted EBITDA* of $124.2 million; Adjusted EBITDA Margin* of 54.3%
• Expected to achieve 85% of publicly stated operating expense synergies by end of 2019
• Quarterly cash dividend of $0.24 per share payable on June 17, 2019

“Our businesses performed well given the reduced opportunity set in the first quarter of 2019 and our execution services results were quite strong relative to the market environment. Since closing the ITG acquisition on March 1st, we have worked diligently on integrating the comprehensive buyside and sellside solutions to serve our clients. I am more excited than ever about how Virtu’s technology, market presence and scale, combined with ITG’s extensive product suite, will enable us to create the most advanced, multi-asset class offering for our global, blue-chip client base,” said Douglas Cifu, Chief Executive Officer of Virtu Financial.

For earnings history and earnings-related data on Virtu Financial (VIRT) click here.