UP Fintech Q2 Revenue Hits Record $182 Million

Earnings
โดย The Motley Fool·US·Read original
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UP Fintech Holding Limited reported record second-quarter revenue of $182 million, up 31% year-over-year, with GAAP net income of $39.4 million and non-GAAP net income of $42.8 million, returning to profitability after a net loss in the previous quarter. Excluding the impact of approximately USD 59.7 million one-off penalty incurred in the first quarter, second quarter GAAP and non-GAAP net income attributable to UP Fintech both increased about 20% quarter-over-quarter. The company added 32,600 new funded accounts, bringing total funded accounts to 1.32 million, and total client assets reached $60.7 billion, up 16.7% year-over-year. Commission income rose 21% to $78.3 million, and interest income increased 36% to $79.8 million. Management noted that Mainland retail clients now account for under 10% of total client assets, down from previous levels, and that the regulatory impact has largely run its course.

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