eToro shares surge amid Q4 profit increase, crypto derivatives swing to $74 million gain
The Block
eToro shares jumped 19% after the company reported a Q4 net income increase and a significant swing in crypto derivatives trading to a $74 million gain.Summary
eToro's shares surged 19% following the release of its Q4 report, which showed a net income increase to $69 million, a 6% improvement year-over-year, despite a decline in cryptoasset revenue from $5.8 billion to $3.6 billion, mirroring broader market trends.
The company achieved a significant turnaround in its derivatives segment, posting a net trading income of nearly $74 million from crypto derivatives in Q4, compared to a $130 million loss in the prior year period.
eToro, which went public last May, stated it is positioning itself to capitalize on the shift towards on-chain market infrastructure, leveraging its leadership in crypto and tokenization, and plans to introduce 24/7 access to select assets this quarter.
(Source：The Block)