eToro Group reported its strongest quarterly performance since going public, with net income surging 37% year-over-year to $82.4 million for the period ended March 31. The retail investing platform beat Wall Street expectations, posting adjusted diluted earnings per share of $0.91 against analyst consensus of $0.73, according to Reuters.
Net contribution rose 19% to $258.2 million, while adjusted EBITDA climbed 35% to $108.5 million. The company attributed the gains primarily to a sharp increase in commodities trading, which accounted for approximately 60% of total trading commissions during the quarter. Trading volumes in commodities nearly quadrupled compared to the same period last year.
“I’m incredibly proud of the eToro team for delivering our strongest quarterly financial results as a public company, while continuing to accelerate product innovation,” said Yoni Assia, CEO and co-founder of eToro.
Funded accounts grew 12% year-over-year to 4.02 million, and assets under administration increased 15% to $17 billion. The company also expanded its product suite, introducing 24/7 trading for select commodities, equities and indices, adding Japanese stocks, and launching crypto trading in New York after securing regulatory approvals. In April, eToro completed its acquisition of crypto wallet provider Zengo, adding self-custody functionality.
However, crypto trading activity softened significantly. According to Barron’s, the total number of crypto trades in April fell 32% from a year earlier. Assia expressed optimism for a rebound later this year, telling CNBC, “We do expect later this year to start seeing crypto rising back to, you know, near all-time high, and that will drive crypto engagement.”
eToro also rolled out AI-powered Agent Portfolios and integrated xAI technology into Tori, its artificial intelligence assistant. The company’s diversified multi-asset platform was highlighted by CFO Meron Shani: “Our strong first quarter results demonstrate the power of our diversified multi-asset platform and our ability to scale efficiently while continuing to invest in innovation and growth.”
In a broader context, the results come as retail investors remain bullish despite geopolitical risks, as noted in a recent Morgan Stanley survey showing 55% of retail investors still optimistic. Meanwhile, platforms like Charles Schwab are expanding crypto access, indicating sustained interest in digital assets despite near-term volatility.
Reuters reported that eToro shares rose 6.5% in premarket trading following the earnings release, though Barron’s later noted the stock was down about 5% in afternoon trading. Total net revenue for the quarter reached $1.07 billion, up 15%, while net income increased to $346 million. Revenue from cryptocurrency trading fell 47% to $134 million, according to Robinhood.
