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NEW YORK - Webull Corporation (NASDAQ:BULL) reported third-quarter earnings that exceeded analyst expectations, with revenue surging 55% year-over-year to $156.9 million, comfortably beating the analyst estimate of $137.3 million.
The digital investment platform posted adjusted earnings per share of $0.07, outpacing the $0.03 consensus estimate.
The company’s shares were up 2% following the announcement, as investors digested the strong performance driven by increased user engagement and high trading volumes.
"We are proud of another strong quarter, with record revenue and customer assets driven by technological innovation, geographic and product expansion, and a favorable market backdrop," said Anthony Denier, Group President and U.S. CEO of Webull.
Trading-related revenue jumped 64% year-over-year, while total operating expenses increased at a much slower rate of 18%, demonstrating the company’s focus on profitable growth. Customer assets reached an all-time high of $21.2 billion, representing 84% growth compared to the same period last year, driven by market recovery and strong net deposits, which grew 31% YoY.
Options contracts volume grew to 147 million, a 24% YoY increase, while equity notional volume surged 71% to $204 billion compared to the same quarter last year.
"Our revenue growth accelerated in the third quarter and continued to comfortably outpace our expense growth, underscoring our disciplined execution and commitment to profitable growth," said H.C. Wang, Chief Financial Officer of Webull.
The company has been expanding its product offerings, recently launching cryptocurrency trading in the U.S. and Australia, introducing brokerage services in the Netherlands, and rolling out corporate bond trading for U.S. customers. Webull also unveiled Vega AI, its new artificial intelligence tool that provides personalized market analysis and investing insights.
Funded accounts increased 9% YoY to 4.93 million, while registered users grew 17% to 25.9 million.
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