eToro Q3 net profit plunges 74% year-over-year to $15 million

November 10 - Online trading platform eToro reported a significant year-over-year decline of 74% in net profit for the third quarter, dropping to $15 million. Affected by weakened cryptocurrency trading activities, the company's net contribution revenue fell 13% year-over-year to $186 million.

In October of this year, eToro's cryptocurrency trading volume decreased by 62% year-over-year to 2 million transactions. By the end of the third quarter, the number of funded accounts on the platform increased by 18% year-over-year to 4.39 million.