Virtus Investment Partners Q4 Profit Beats View

(RTTNews) - Virtus Investment Partners, Inc. (VRTS), a provider of investment management products and services, Friday reported net income of $33.29 million or $4.66 per share for the fourth quarter, higher than $30.83 million or $4.21 per share in the same quarter a year ago.

Excluding one-time items, adjusted earnings were $7.50 per share, that beat the consensus estimate of $7.43 per share. Analysts' estimates typically exclude special items.

Operating income rose to $50.72 million from $38.96 million last year, while adjusted operating income increased to $74.5 million from $70.5 million.

Revenue for the quarter grew to $233.49 million form $214.59 million in the previous year.

Total assets under management was $175 billion as on December 31, 2024, decreased sequentially from $183.7 billion.