eToro revenue expected to reach $1.2 billion for 2021
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The popular Israeli social trading platform yesterday released its unaudited preliminary financial results for the fourth quarter and full-year ending December 31, 2020. eToro revenue is expected to be 1.2 billion dollars.
eToro achieves impressive revenue
According to an investor update published by eToro, the company anticipates accruing total trading commissions between $285 million and $295 million. This compares to $222 million in Q3 2021 and $164 million in Q4 2020.
The company is expected to generate $1.2 billion in revenue for the full year of 2021, up 100% year-on-year from $600 million in 2020.
In addition, the report outlines eToro added approximately 2.1 million new registered users in Q4 2021. This figure is up by 33 percent from 1.6 million new clients the company onboarded in the third quarter.
As a result, eToro expects to have 27 million total users and 2.4 million funded accounts as of December 31, 2021. Assets under administration (AUA) also stood at $10.6 billion in Q3 2021, up 13 percent compared with Q2’s $9.4 billion.
Optimism about the future
eToro is one of the brokers that has benefited greatly from the COVID-19 pandemic. While eToro’s social investment product has achieved many successes since its inception. Cryptocurrency trading on this platform has been an enormous success. Trading commissions generated from trading digital assets account for almost two-thirds of all commissions eToro earns in 2021.
Yoni Assia, CEO and Co-founder of eToro commented: “Our preliminary fourth quarter 2021 financial metrics show continued strong growth and demonstrate that we are executing very well on our business plan. Our fourth quarter 2021 preliminary results point to full-year 2021 total commissions of approximately $1.2 billion, representing more than 100% year-over-year growth. We continue to see a strong increase in the number of users engaging with our platform across our global footprint and are very excited for what lies ahead in 2022 and beyond.”
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