Homepage > News > eToro (UK) with a revenue increase of 717% in 2020

eToro (UK) with a revenue increase of 717% in 2020

EToro (UK) Limited, the UK division of a global group, has released its financial data for the fiscal year ending December 31, 2020. The FCA-licensed company reported a net income of $41.86 million, 717% higher than a year earlier when it amounted to USD 5.1 million.

According to previous media reports, eToro generated total global revenues of USD 602 million. This means that the UK branch of eToro accounted for almost 7% of this amount.

The broker achieved USD 1.8 million in net profit

The operating costs of eToro’s UK operations have also increased significantly. The company spent $39.9 million on UK operations during the year, up from $5.7 million in the previous year. It was an increase of 602% year on year.

Considering all other expenses and sources of income, the British entity ended the year with a pre-tax profit of $2.16 million. In the previous year, the broker recorded a loss of $519,858. The company’s net profit for 2020 was $1.8 million.

Author: Daniel Hill

Are you a trader?

Help others and rate your broker! Use the search engine or find your broker on the list.

exante baner

Last news:

german economy

German Business Climate Dips, Indicating Looming Extended Recession

A successive drop in German business morale in June indicates an impending lengthier recession for ...
ropa naftowa

Nigeria’s Oil Market Faces Crisis as Half of Output Goes Unpurchased

The Nigerian oil market is currently facing a significant surplus, with nearly half of next ...
Week for Wall Street

Stock Futures Fall, Investors Eye Powell’s Testimony

Stock futures are indicating a downtrend ahead of the Federal Reserve Chair, Jerome Powell's second ...

Euro Maintains Position Despite Russia’s Drastic Reduction in Use – ECB Report

Despite Russia's significant reduction in its use, the Euro stood its ground as the world's ...

Add a comment

Your email address will not be published. Required fields are marked *


Note: Opinions and posts on ForexRev.com represent personal opinions and views of their respective authors and should not be interpreted as recommendations to purchase or sell securities. ForexRev.org assumes no responsibility or liability for such content.
Go to top