Stock and crypto trading platform eToro exceeded third-quarter profit estimates, as retail investors continued buying despite bubble concerns. Equities hit record highs due to solid earnings, lower inflation, and AI optimism. Gold surged, with customers rebalancing portfolios by moving away from tech stocks. eToro’s net contribution rose 28% to $215 million.

New fintech platforms are challenging Wall Street incumbents by attracting younger, tech-savvy investors with low fees and a wider asset range. EToro reported adjusted profit of 60 cents per share, beating analyst expectations. It also announced a share repurchase program worth up to $150 million. The company’s assets under administration grew by 76% to $20.8 billion.

EToro CEO Yoni Assia expressed eagerness for acquisitions to enhance customer value. The company’s assets under administration surged 76% year-on-year. Retail participation remains strong due to accessible trading apps, market news, and volatile price moves. EToro plans to enter prediction markets by late 2026, amid fierce competition from neo-brokerages like Robinhood. Robinhood recently introduced a social investing platform to attract customers from traditional Wall Street heavyweights.

Read more at Yahoo Finance: Trading platform eToro beats profit estimates as retail investors ride market boom