- UP Fintech ( NASDAQ: TIGR ) Q2 shows total revenue of $53.5M, beating consensus by $3.69M, a decrease of 11.2% Y/Y.
- Commissions were $28.2M, a decrease of 8.8% Y/Y; Financing service fees were $1.5M, a decrease of 32.5%; Interest income was $14.5M, a decrease of 14.2%; Other revenues were $9.3M, a decrease of 8.9%.
- Total number of customers with deposit increased 38.2% Y/Y to 731,400.
- Total account balance decreased 37.9% Y/Y to $14.9B.
- Total margin financing and securities lending balance decreased 53.5% Y/Y to $1.6B.
- Net loss was $0.9M vs. $21.5M last year.
- Non-GAAP EPADS of $0.022.
- Company gets a quant rating of Sell with lowest factor grades given to revisions and momentum.
- Seeking Alpha highlights that the stock has a high risk of performing badly due to decelerating momentum and negative EPS revisions when compared to other financials stocks.
- Contributor writes: ' UP Fintech: A Buying Opportunity, Despite The Risk '
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