Trading platform eToro's stock slide eclipses profit beat
Retail trading has been strong this year, buoyed by gains in U.S. equity markets and renewed interest in high-risk assets such as cryptocurrencies and tech stocks.
In April, markets saw sharp swings after U.S. President Donald Trump announced new tariffs, yet analysts observed that individual investors were not deterred by the volatility and quickly sought opportunities to "buy the dip".
However, "those numbers (elevated trading activity) normalized throughout July, as we moved from the spike in April," Chief Financial Officer Meron Shani told analysts in a post-earnings call with analysts.
Net contribution, which deducts the cost of revenue from cryptoassets and margin interest expense, jumped 26 per cent to $210 million from the year-ago quarter.
New-age fintech platforms have taken market share from established Wall Street firms by luring younger, tech-savvy investors.
eToro's assets under administration (AUA) grew 54 per cent to $17.5 billion in the quarter.
"During the quarter, eToro continued to develop its offering, launching key products," analysts at Jefferies said in a note, adding that growth in AUA was driven by market gains in equities and crypto, alongside strong customer inflows.
The company went public in May in a bumper U.S. initial public offering, with its shares surging on debut after pricing above the marketed range.
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