Up Fintech Revenue: $122.6M Financial Results
- Up Fintech, operating the Tiger Brokers platform (Nasdaq: TIGR), reported a significant surge in profitability, driven by increased trading activity.The company posted total revenue of $122.6 million and...
- The company's revenue increased by 55.3% compared to the same period last year, while net income saw a 145% increase, reaching a new high.
- Tiger Brokers attracted 77,000 new accounts, bringing its global user base to 2.53 million.
Up Fintech’s Tiger Brokers platform reports stellar financial results! Revenue hit $122.6 million, and net income soared an remarkable 145% due to a surge in trading activity. The company’s expansion strategy is paying off, with a global user base now at 2.53 million, fueled by 77,000 new accounts.Net deposits grew considerably, with total client assets reaching $45.9 billion,demonstrating strong growth in the fintech space. Tiger brokers is strategically targeting wealthier clients, especially in Greater China and the Asia-Pacific region, while expanding in the U.S., Australia, and New Zealand. Trading volume surged in key markets like the U.S. and singapore, with notable gains in options trading. This data, presented by News Directory 3, clearly demonstrates Tiger Brokers’ successful trajectory. Discover what’s next for Up Fintech as it continues to enhance its platform and expand its global reach.
Tiger Brokers Profit Soars Amid Trading Activity Surge
Up Fintech, operating the Tiger Brokers platform (Nasdaq: TIGR), reported a significant surge in profitability, driven by increased trading activity.The company posted total revenue of $122.6 million and a net profit of $36 million in its latest quarterly results.
The company’s revenue increased by 55.3% compared to the same period last year, while net income saw a 145% increase, reaching a new high. This growth is attributed to a substantial rise in trading volume, which hit $217.5 billion, a 154.6% jump.
Tiger Brokers attracted 77,000 new accounts, bringing its global user base to 2.53 million. Net deposits grew by $3.4 billion, increasing total client assets to $45.9 billion, a 39.5% rise. The company is focused on expanding its global reach and attracting wealthier clients to further boost its financial performance and solidify its market role.
CEO Wu Tianhua said Tiger is gaining traction among high-net-worth individuals. Client assets in Greater China rose more than 20% from the previous quarter, and new Hong Kong users added over $30,000 each, on average, in net asset inflows.
the company is known for facilitating access to U.S.and global markets for retail investors in mainland China. It is also expanding in the Asia-Pacific region. In Singapore,client trading volume jumped 81.5%, with executed orders up 65.8%.
Trading volume in U.S. and Singapore-listed stocks increased by 71.3% and 61.2%, respectively. U.S. options trading volume surged by 127.7%.
Options trading in Hong Kong spiked nearly tenfold. Tiger is also expanding in the Southern hemisphere, with funded accounts in Australia jumping by 37% and deposits rising 71%. New Zealand also showed strong results.The company’s global footprint is strengthening, playing a key role in its continued success.
Outside the Asia-Pacific region, the platform is growing in the U.S. Trading volume from American clients increased by 131%, while new funded accounts climbed 28.4%.
Tianhua said Tiger continues to enhance its platform, including support for crypto deposits and withdrawals, and new AI-driven tools to improve user experience.
What’s next
Up Fintech Holding Limited aims to further strengthen its global footprint and enhance its platform to attract more users and increase trading volume.