Overview
eToro Q3 net contribution grows 28% yr/yr to $215 mln
Assets under administration increased 76% yr/yr to $20.8 bln
Company announces $150 mln share repurchase program
Outlook
eToro plans to expand its reach in the U.S. through Copy Trading
Company intends to enter an Accelerated Share Repurchase agreement for $50 mln
eToro aims to launch its crypto wallet in the next few quarters
Result Drivers
ASSETS UNDER ADMINISTRATION - Grew 76% yr/yr to $20.8 bln, driven by user acquisition and retention efforts
FUNDED ACCOUNTS - Increased 16% yr/yr to 3.73 mln, supported by user acquisition and retention efforts
PRODUCT DEVELOPMENT - AI and crypto initiatives contributed to growth, with new products enhancing user engagement
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
$0.60
Q3 EPS
$0.53
Q3 Net Income
$56.82 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 23 three months ago
Press Release: ID:nGNX1qH4hv
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)