eToro Q3 Profit Drops 74% as Crypto Trading Activity Slows

TL;DR: eToro reported third-quarter net income of about $15 million, down from $57 million a year earlier, as crypto-related activity weakened. Its funded-account base continued to grow, highlighting the difference between attracting customers and generating trading revenue from them in any particular quarter. A trading platform can gain users even when the market becomes less profitable to trade. That tension runs through eToro’s latest financial results, which showed weaker quarterly earnings despite an expanding customer base. According to the company’s November 10 earnings release , third-quarter net income was approximately $15 million, a decline of about 74% from $57 million in the comparable period. Net contribution came to around $186 million, down 13% year over year, with lower cryptocurrency trading activity contributing to the drop.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to NewsBTC.