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EToro Third-Quarter Results Top Estimates on Crypto Trading Strength, KBW Says
The trading platform’s adjusted Ebitda beat expectations as higher crypto trading and net interest income offset weaker equities and commodities results.
Nov 10, 2025, 3:00 p.m.
What to know:
- EToro third-quarter adjusted Ebitda of $78 million beat KBW and consensus estimates.
- Crypto trading revenue surged on higher volumes and fees, the bank said.
- The trading platform announced a $150 million share buyback.
EToro’s (ETOR) third-quarter earnings topped expectations as stronger crypto trading activity lifted results, investment bank KBW said.
Net income rose 48% from a year earlier to $57 million, according to the company’s GAAP results. Adjusted Ebitda grew 43% to $78 million, largely due to increased net contribution and disciplined cost management, the company said Monday.
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Adjusted Ebitda of $78 million exceeded KBW's $70 million estimate and the $70.6 million consensus, while GAAP net income of $57 million was also ahead of forecasts, the bank said.
Shares of the company rose as much as 3.2% in early trading before falling back. They were recently 0.1% lower at $34.83.
KBW analysts said the $0.07 per-share Ebitda beat came from a $0.06 boost in total net contribution and a $0.01 reduction in operating expenses.
Crypto trading revenue and net interest income topped expectations by $0.16 and $0.07 respectively, the report noted, offsetting a $0.17 shortfall in equities, commodities and currencies.
EToro’s total net contribution rose to $215 million, above KBW’s $208 million forecast, driven by $56 million in crypto trading versus expectations for $36.3 million.
The company ended the quarter with 3.73 million funded accounts, up from 3.63 million the prior quarter and slightly above KBW’s 3.7 million estimate.
Assets under administration climbed to $20.8 billion from $17.5 billion. EToro also unveiled a $150 million share repurchase program, including plans for a $50 million accelerated buyback, the report added.
Read more: Crypto Trading Drove Over 90% of eToro’s Second Quarter Revenue
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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