Virtus Investment Partners Q2 Profit Declines, Misses Estimates
(RTTNews) - Virtus Investment Partners, Inc. (VRTS) reported Friday that net income attributable to Virtus for the second quarter declined to $17.6 million or $2.43 per share from $30.3 million or $4.10 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $6.53 per share, compared to $5.43 per share in the year-ago quarter.
Revenues for the quarter grew 5 percent to $224.4 million from $213.5 million in the same quarter last year. Adjusted revenues were up 7 percent to $203.0 million.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.61 per share on revenues of $205.53 million for the quarter. Analysts' estimates typically exclude special items.
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