eToro shares pop 20% as crypto revenues bolster Q4 earnings
eToro CEO Yoni Assia says he is positioning the trading platform “for a financial system that is increasingly moving on-chain,” after its crypto revenues boosted earnings in Q4.
Trading platform eToro jumped more than 20% after reporting better-than-expected fourth-quarter earnings, with revenue coming mainly from its crypto services.
The company reported on Tuesday that its Q4 net income increased 16% from a year ago to $68.7 million, with earnings per share of 71 cents, compared with analyst expectations of 60 cents.
Fourth-quarter revenue came in at $3.87 billion, down 40% from the prior-year period, with crypto revenue accounting for the bulk of earnings at $3.59 billion.