EToro stock jumps on Q3 results, $150M buyback plan
The company posted $20.8 billion in client assets, a 48% increase in profit, and plans for a $150 million share buyback program.
Shares of social trading and investing platform eToro (Nasdaq: ETOR) rose on Monday after the company reported a 76% year-over-year increase in assets under administration to $20.8 billion in the third quarter.
The company also posted a 28% increase in net contribution to $215 million, up from $167 million the previous year, alongside the launch of a $150 million share repurchase program.
Net income under Generally Accepted Accounting Principles (GAAP) rose 48% to $57 million from $39 million in the same quarter last year, while funded accounts expanded 16% to 3.73 million, supported by the integration of Australia’s Spaceship app acquired in 2024.