Virtu Financial (NASDAQ: VIRT) reported Q1 EPS of $1.80, $0.41 better than the analyst estimate of $1.39. Revenue for the quarter came in at $1 billion versus the consensus estimate of $563.8 million.

First Quarter 2020 Selected Highlights

• Net income of $388.2 million; record Normalized Adjusted Net Income1 of $400.3 million
• Basic and diluted earnings per share of $1.80; record Normalized Adjusted EPS1 of $2.05
• Record total revenues of $1,004.1 million; Trading income, net of $802.5 million; Adjusted Net Trading Income1 of $784.5 million
• Record Adjusted EBITDA1 of $569.7 million; record Adjusted EBITDA Margin1 of 72.6%

“The quarter was of course marked by the impact of COVID-19 on our country and broader world. Our thoughts are with the global communities affected by this unprecedented pandemic and we thank all of the front line responders working to restore and protect public health,” said Doug Cifu, Chief Executive Officer. “During this challenging period we have focused our efforts on providing our core services to the markets and clients we serve, protecting our employees and other constituents through appropriate remote work arrangements, and supporting the communities in which we operate. Our record performance in the first quarter exemplifies the strength of our business model to handle unprecedented levels of market volumes and volatility and its long-term sustainability throughout all market environments,” Mr. Cifu added. “While the long term impact on markets and the global economy is not known, I am confident we will apply what we’ve learned thus far and emerge even stronger as a company and continue to deliver long term value to our clients and shareholders.”

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