Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Reconciliation of Net Income Before Noncontrolling Interest to Net Income Available for Common Stockholders

The below table contains a reconciliation of Net income before income taxes and noncontrolling interest to Net income available for common stockholders:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024
Income before income taxes and noncontrolling interest	$	347,020	$	155,385	$	570,756	$	295,205
Provision for income taxes	54,044		27,268		88,145		55,780
Net income	292,976		128,117		482,611		239,425



Noncontrolling interest	(141,789)		(61,531)		(231,743)		(117,022)

Net income available for common stockholders	$	151,187	$	66,586	$	250,868	$	122,403

Schedule of Basic Earnings Per Share

The calculation of basic and diluted earnings per share is presented below:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except for share or per share data)	2025		2024		2025		2024
Basic earnings per share:
Net income available for common stockholders	$	151,187	$	66,586	$	250,868	$	122,403

Less: Dividends and undistributed earnings allocated to participating securities	(10,122)		(3,760)		(16,491)		(6,833)
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities	141,065		62,826		234,377		115,570

Weighted average shares of common stock outstanding:
Class A	85,490,121		88,137,799		85,585,040		88,568,461

Basic earnings per share	$	1.65	$	0.71	$	2.74	$	1.30

Schedule of Diluted Earnings Per Share


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except for share or per share data)	2025		2024		2025		2024
Diluted earnings per share:
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities	$	141,065	$	62,826	$	234,377	$	115,570

Weighted average shares of common stock outstanding:
Class A
Issued and outstanding	85,490,121		88,137,799		85,585,040		88,568,461
Issuable pursuant to Second Amended and Restated 2015 Management Incentive Plan	40,305		220,424		209,579		102,868
	85,530,426		88,358,223		85,794,619		88,671,329

Diluted earnings per share	$	1.65	$	0.71	$	2.73	$	1.30

Virtu Financial, Inc. 10-Q