=Virtu Financial (VIRT) reported earnings on Thur 4 May 2017 (b/o)

Virtu Financial reports EPS in-line, misses on revs; sees acquisition by KCG (KCG) closing in Q3 :

• Reports Q1 (Mar) earnings of $0.16 per share, excluding non-recurring items, in-line with the two analyst estimate of $0.16; revenues (Adj-net trading income) fell 32.3% year/year to $79.4 mln vs the $82.2 mln single analyst estimate.
• Since the April 20 announcement of our definitive agreement to acquire KCG Holdings (KCG), we have begun working on a transition plan with KCG management, initiated the formal change in control applications with regulators, as well as customary anti-trust processes, and continued to conduct due diligence required to close the transaction. At this time, we continue to anticipate closing the transaction in Q3 2017.