ETORO for online trading and investment has informed its results in the second quarter before the open on Tuesday, which indicates growth in funded accounts and assets under the administration (AUA) and revenues compared to the same period last year.
The net contribution increased by 26 % on an annual basis to 210 million dollars, driven by higher commercial activity.
Management assets increased by 54 % to 17.5 billion dollars, while the funded accounts increased by 14 % to 3.63 million, which were strengthened by obtaining the continued acquisition of users, retaining efforts, and buying the Australian space ship 2024.
The modified Ebitda increased by 31 % to 72 million dollars, with the support of increasing revenues and controlling the disciplined costs.
The average net income increased to $ 54.2 million from 44.2 million dollars in the previous year, while the net GAAP income decreased slightly to 30.2 million dollars, which reflects $ 15 million in costs related to public subscription.
CEO Uni Asia said that the quarter performance came alongside the developments of prominent products, including trading around the clock throughout the week, new long -term portfolios with Franklin Templeton, and savings products in France.
The company also expanded its mark in Asia through a new Singapore Center.
The financial manager, Miroun Shani, highlighted the company’s focus on profitable growth in the first profit version of the company as a public company.
Itoro said it is still committed to innovations in the distinctive symbol and tools that work with AI materials to enhance the retail investor participation, while continuing to expand the four trading poles, investment, wealth management and new banks.