eToro with a 66% increase in commission income in the third quarter of 2021
eToro, one of the leading global investment platforms, has published financial results for the third quarter of 2021. According to the data, the company posted a net income of $176 million, increasing 56% compared to the same period last year.
In addition, eToro received $222 million in commission in the third quarter of 2021, an increase of 66% compared to the third quarter of last year. Moreover, the platform acquired 1.6 million new registered users, an increase of 8% compared to the same period last year.
The value of assets under management reached $ 10.6 billion as of September 30, 2021, increasing by $1.2 billion from June 30, 2021. This was mainly due to new deposits and an increase in asset prices.
Great results also in UK
The financial data for 2020 was recently disclosed by eToro (UK) Limited, the UK branch of the eToro group. The FCA-licensed company reported net revenue of $41.86 million, 717% higher than the year before when it was $5.1 million. The operating costs of the UK branch of eToro have increased significantly. The company spent $39.9 million in UK operations during the year, a significant increase from the prior year of $5.7 million.