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Investing.com -- FlatexDEGIRO delivered strong third-quarter results, with revenues reaching approximately €132 million, exceeding consensus estimates by 7%.
The online broker’s performance was primarily driven by robust commission income of around €86 million. Commission income per trade increased to €4.83 in the third quarter, up from €4.72 in the second quarter, benefiting from a higher share of US transactions and the international rollout of cryptocurrency trading.
Net interest income showed resilience at approximately €42 million, supported by higher cash deposits and an increase in margin loans rate.
Cost management was better than expected at €43 million, compared to consensus estimates of €48 million. The improvement was driven by lower personnel expenses, including both current and long-term variable compensation, along with better operational expenditure.
FlatexDEGIRO had pre-released some of these results last week, including net income of €39 million, which exceeded consensus estimates by more than 15%.
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