Virtu Financial posted Q1 2026 net income of $346.6 million, an 82.9% increase from $189.6 million a year earlier, the market making firm said on Wednesday. Total revenues rose 30.7% year-over-year to $1.1bn.
Diluted EPS came in at $1.99 and Normalized Adjusted EPS, a non-GAAP measure, reached $2.24, up from $1.30 in Q1 2025.
Market making carried the quarter
The Market Making segment generated $915.7 million in total revenue, compared with $691.2 million a year earlier. Trading income in the segment rose to $782.4 million from $582.6 million. Adjusted Net Trading Income for Market Making hit $637.1 million, up from $382.0 million in Q1 2025.
Execution Services grew at a slower pace, with total revenues of $187.1 million versus $141.0 million a year ago.
Across the business, Adjusted EBITDA increased 62.7% to $520.6 million, producing an Adjusted EBITDA margin of 66.2%. Net income margin stood at 31.6%.
Virtu ended March with $1.03 billion in cash, cash equivalents and restricted cash, against $2.05 billion in total long-term debt.
The board declared a $0.24 quarterly cash dividend, payable June 15, 2026 to shareholders of record as of June 1, matching the company’s recent payout pattern.
Ahead of the print, analysts had been watching whether a volatile first quarter, marked by geopolitical tensions and elevated commodity prices, would feed through into trading revenue for market makers. Virtu’s results confirm this, with the firm’s principal trading arm converting that backdrop into wider margins and an 82.9% increase in net income year-over-year.
