Swissquote seen down as weak cryptocurrencies hit results, outlook
BUZZ-Swissquote seen down as weak cryptocurrencies hit results, outlook ** Shares in Swissquote SQN.S fall 4% in pre-market indications after the financial and trading services provider missed expectations on H1 results due to weak cryptocurrency income
** It also trimmed its FY 2026 net revenues guidance to CHF 730 million ($897.25 million), previously CHF 760 million, and expects pre-tax profit to come in at CHF 365 million, previously CHF 385 million
** "The result is operationally reassuring but earnings-negative, as strong account growth, (net new money) and capital strength are unlikely to fully offset the lowered FY26 profit outlook in the near term," says ODDO BHF
** The broker notes the new guidance suggests management is assuming only a gradual cryptocurrency recovery and limited near-term operating leverage
** Stock is down 12% YTD
($1 = 0.8136 Swiss francs)
(Reporting by Paolo Laudani in Gdansk)