eToro reported $15 million in third-quarter net income, 74% below a year earlier. Separately, the platform recorded two million crypto trades in October, down 62% annually.
Quarterly net contribution totaled $186 million, versus $215 million a year earlier. Adjusted EBITDA came in at $34 million, a 56% drop. Adjusted earnings of 26 cents per share trailed the 32-cent analyst estimate.
The average investment in each October crypto trade was $228, 29% lower year over year. Across equities, commodities and currencies, transactions came to 48.2 million, 22% below the prior year.
eToro had 4.39 million funded accounts, up 18%, while assets under administration remained at $20.8 billion. Capital markets net contribution grew 21%, partly countering lower crypto activity.
eToro also announced a $250 million share repurchase and agreed to acquire Argentina-based LB Finanzas.
