đ eToro's Q3 profit drops 74% as crypto trading cools
eToro reported third-quarter net income of $15 million, down 74% from $57 million a year earlier, as weaker crypto trading weighed on results. Net contribution fell 13% to $186 million, and revenue from crypto assets shrank to $1.35 billion from $3.97 billion.
The slowdown continued in October: crypto trades fell 62% year over year to 2 million, with the average amount per crypto trade down 29% to $228. The board also approved a $250 million share buyback.
â Falling retail crypto activity at a major broker signals cooling demand across the market, a headwind for exchange revenues and liquidity.
#eToro #Crypto #Earnings #Markets
eToro reported third-quarter net income of $15 million, down 74% from $57 million a year earlier, as weaker crypto trading weighed on results. Net contribution fell 13% to $186 million, and revenue from crypto assets shrank to $1.35 billion from $3.97 billion.
The slowdown continued in October: crypto trades fell 62% year over year to 2 million, with the average amount per crypto trade down 29% to $228. The board also approved a $250 million share buyback.
â Falling retail crypto activity at a major broker signals cooling demand across the market, a headwind for exchange revenues and liquidity.
#eToro #Crypto #Earnings #Markets
