TIGR - Why Online Brokerage Firm UP Fintech's Stock Is Declining Today | Benzinga
UP Fintech Holding Limited (NASDAQ:TIGR) shares are trading lower after the company after the company reported fourth-quarter FY23 results.
Total revenues increased 9.6% year-over-year to $70.0 million, while total net revenues decreased 4.7% to $54.0 million.
Segments: Commissions were $22.0 million, down 11.9% Y/Y, due to decreased trading volume. Financing service fees were $3.2 million, up 18.4% Y/Y, primarily due to increased interest rates.
Interest income was $40.0 million, up 31.3% Y/Y, on higher margin financing and securities lending activities.
In ...