eToro registers steep rise in trading income in Q3 2021

Online trading broker eToro today posted its financial report for the third quarter of 2021, revenues marking a solid rise from the year-ago quarter.

For the third quarter of 2021, total commissions were $222 million, up 66% versus the corresponding period in 2020, driven by strong trading revenue, higher interest income and higher other income.

Net trading income was $176 million, up 56% from the year-ago quarter, driven by strong trading across a diverse range of cryptoassets.

Total operating expenses excluding stock-based compensation and merger-related expenses were $203 million, up 94% year-over-year, due to higher marketing expenses and investments to scale and support eToro’s fast-growing business.

The broker registered a net loss of $98 million in the third quarter of 2021, primarily due to a non-cash charge of $60 million in stock-based compensation for eToro employees and $11 million of transaction costs related to the business combination with FTCV. Adjusted EBITDA for the third quarter of 2021 was negative $25 million, largely driven by the Company’s significant investments in growth initiatives, including marketing.

Assets under administration were $10.6 billion as of September 30, 2021, an increase of $1.2 billion from June 30, 2021, driven by both user deposits and asset price appreciation.

Shalom Berkovitz, CFO and Deputy CEO said:

“The third quarter of 2021 saw lower levels of volatility and trading activity following the highs of H1, as we had anticipated, though activity remained significantly above levels seen in 2020. To date in the fourth quarter, we’ve seen a strong uptick in activity, particularly in cryptoassets.

“We continue to see strong engagement and user growth on the eToro platform, as evidenced by the addition of more than 160,000 funded accounts in the third quarter of 2021. We remain excited about eToro’s long-term growth opportunities given the strong secular trend towards self-directed investing and the growing participation of retail investors in global markets, as well as our differentiated offerings. eToro’s focus continues to be on growth and therefore, in periods where we generate revenue in excess of our original forecast, we will look to reinvest these funds into marketing channels and the necessary infrastructure to scale and support our fast-growing business.”

Regarding the proposed merger with FinTech Acquisition Corp. V (NASDAQ:FTCV), the company continues to target a closing in the fourth quarter of 2021.

Posted on

137 Replies to “eToro registers steep rise in trading income in Q3 2021”

  2. priligy en france Fainting Seizures Passing memory loss Eye effects, including swelling of the eyelids and red eyes Sudden decrease or loss of hearing Hives itchy red welts on the surface of the skin Penile bleeding Presence of blood in semen Increased sweating

  8. As I have shown you earlier in this guide, this combination is responsible for almost all of the massive gains made by bodybuilders and powerlifters during the 1980 s and 1990 s pamabrom vs lasix Monitor Closely 1 nifedipine will decrease the level or effect of tobramycin by P glycoprotein MDR1 efflux transporter

  12. During these 6 years on treatment, I have diligently tended to my side effects with complementary measures, just like dlb823 said reddit priligy com 20 E2 AD 90 20Pharmacy 20Viagra 20Pfizer 20 20Viagra 20Informacion 20En 20Espanol viagra informacion en espanol Froome, angry about the Spaniard s dangerous riding which forced him off his bike near the end of yesterday s 16th stage to Gap, was evidently still stewing about the incident six hours later when he posted a tweet just before 11pm expressing his irritation

  15. Many systematic reviews were examined to determine pre existing notions regarding the relationship between TT therapy and breast cancer incidence in treating hypoactive sexual desire disorder in postmenopausal women 25 33 stromectol amazon None of the most lionised hosts is holding an event this year

  17. Fulvestrant formerly ICI 182780 is as effective as anastrozole in postmenopausal women with advanced breast cancer progressing after prior endocrine treatment generic lasix Hormonally targeted strategies not likely to result in menstrual irregularities or hot flashes and thus likely to be more attractive to young, premenopausal women include the following 1 soy isoflavones, which might result in less potent levels of estrogen or estrogen metabolites 45; 2 gonadotrophin releasing hormone agonist regimens combined with low dose hormone replacement 46; and 3 short course hormonal combinations that mimic pregnancy for nulliparous women in their late teens and early twenties 47

  18. Rodriguez C, IbГЎГ±ez R, Mojica L, Ng M, Spadafora C, Durant Archibold AA, GutiГ©rrez M tab ivermectin 3mg Furthermore, the effects of n 3 FAs can be evaluated within the context of an overall healthy diet

  24. fragrans were collected from Xianning City and extracted with ethanol as recommended by Cai et al best otc viagra Williams TA, Leslie GD, Dobb GJ, Roberts B, van Heerden PV

  28. 3 to propose the concept that albuminuria was a marker for and linked to a generalized endothelial cell defect as documented by an increased transcapillary albumin escape rate 4, 5 nolvadex for sale Seeing that the mass

  31. Our result shows it s not too late, he said, so there s no excuse for not going hell for leather to find some sort of therapy cialis dosage In addition, to examine the response to estrogen in BJMC3879luc2 cells, one week before the experiment, the medium was changed to a phenol red free form of RPMI 1640 containing charcoal stripped fetal bovine serum steroid free medium

  33. Subset Analyses Adjuvant Breast Carcinoma Study Disease Free Survival Overall Survival Patient Subset No buy cialis usa This might help to explain some of the proliferation effects of OT in breast cancer cell lines with changes in IP 3 or Ca 2 i signalling

  36. buy cialis canada pharmacy The events of our culture are often gauged through their own version of metes and bounds recreation, festivals, concerts, performances, and gardens, to name a few, have a cyclical character that marks our lives

Leave a Reply

Your email address will not be published. Required fields are marked *