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eToro Stock Surges on Strong Q3 Results and $150M Buyback Plan
eToro Stock Surges on Strong Q3 Results and $150M Buyback Plan
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BTCCSquare news:
Shares of social trading platform eToro jumped 7% in Nasdaq intraday trading following robust Q3 earnings. Assets under management soared 76% year-over-year to $20.8 billion, while net contribution climbed 28% to $215 million. The board authorized a $150 million share repurchase, including an immediate $50 million tranche.
GAAP net income surged 48% to $57 million as funded accounts grew 16% to 3.73 million, boosted by the integration of Australia's Spaceship app. The platform recorded 5 million crypto trades last month, though no specific cryptocurrencies were named in the report.
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