FX.co ★ Virtus Investment Partners, Inc. Q1 Profit Drops, Inline With Estimates

Virtus Investment Partners, Inc. (VRTS) disclosed a reduction in their first-quarter profits compared to the same period last year, perfectly aligning with Wall Street projections.

The firm's net income arrived at $29.9 million, equivalent to $4.10 per share. This contrasts with the $38.6 million, or $5.21 per share posted in the first quarter of the previous year.

Upon excluding particular items, Virtus Investment Partners, Inc. realized an adjusted income of $39.4 million, or $5.41 per share for the given period.

According to data collected by Thomson Reuters, analysts had, on average, predicted the company would accrue $5.41 per share. Notably, these forecasts typically sidestep extraordinary items.

Finally, the total revenue for this quarter surged by 12.2%, amounting to $222 million, a considerable increase from $197.9 million last year.

Here's a quick recap of Virtus Investment Partners, Inc. earnings (GAAP):

-Q1 Earnings: $29.9 Million against $38.6 Million last year.

-Q1 EPS: $4.10, down from $5.21 last year.

-Q1 Revenue: $222 Million, up from $197.9 Million last year.