EToro (ETOR) Third-Quarter Results Top Estimates on Crypto Trading Strength, KBW Says
EToro’s (ETOR) third-quarter earnings topped expectations as stronger crypto trading activity lifted results, investment bank KBW said.
Net income rose 48% from a year earlier to $57 million, according to the company’s GAAP results. Adjusted Ebitda grew 43% to $78 million, largely due to increased net contribution and disciplined cost management, the company said Monday.
Adjusted Ebitda of $78 million exceeded KBW’s $70 million estimate and the $70.6 million consensus, while GAAP net income of $57 million was also ahead of forecasts, the bank said.
Shares of the company rose as much as 3.2% in early trading before falling back. They were recently 0.1% lower at $34.83.
KBW analysts said the $0.07 per-share Ebitda beat came from a $0.06…
