Virtu Financial, Inc. ( VIRT ) shares are trading lower on Thursday.

The company reported third-quarter adjusted earnings per share of 82 cents, beating the analyst consensus estimate of 79 cents. Quarterly revenues increased to $706.84 million, up 12.2% from the prior year.

Trading income, net, surged 40.5% to $444.0 million for the quarter, up from $316.1 million in the same period last year.

Adjusted net trading income rose 30.2% to $388.03 million this quarter, up from $298.0 million in the same period last year and above the consensus of $376.04 million.

Adjusted EBITDA increased 54% to $214.8 million for this quarter, with a corresponding margin of 55.4%.

As of September 30, Virtu had $738.2 million in cash and equivalents and total long-term debt outstanding in an aggregate principal amount of $1.769 billion.

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Since the program’s inception in November 2020 through the settlement date of October 22, the company has repurchased approximately 49.2 million shares of Class A Common Stock and Virtu Financial Units for about $1.240 billion.

The company has approximately $479.3 million remaining for future purchases under the program.

Dividend: The company declared a quarterly cash dividend of 24 cents per share. This dividend is payable on December 15, to shareholders of record as of December 1.

Price Action: VIRT shares are trading lower by 6.18% to $30.35 at last check Thursday.

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