Webull Corp (NASDAQ:BULL) reported third-quarter financial results Thursday after the bell. Here’s a look at the key details from the brokerage platform company’s report.
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Q3 Highlights: Webull reported third-quarter revenue of $156.94 million, beating estimates of $135.58 million, according to Benzinga Pro. The company said revenue grew 55% year-over-year, driven by user engagement and high trading volumes.
Webull reported third-quarter adjusted earnings of seven cents per share versus estimates of two cents per share.
Total customer assets grew 84% year-over-year to $21.2 billion at quarter's end, driven by a market recovery and strong net deposits, which grew 31% year-over-year. Registered users increased 17% year-over-year to 25.9 million and funded accounts rose 9% to 4.93 million.
“We continue to execute and grow our platform as showcased by the launch of Vega, our new AI tool that brings personalized market analysis and investing insights, in addition to the delivery of a variety of new offerings, including corporate bonds, access to event-based prediction markets and the re-introduction of crypto,” said Anthony Denier, group president and U.S. CEO of Webull.
Equity notional volume was up 71% year-over-year to $204 billion, and option contracts volume increased 24% year-over-year to 147 million.
Webull ended the quarter with approximately $654.8 million in total cash and cash equivalents.
Webull executives will further discuss the quarter on a call with investors and analysts at 5 p.m. ET.
BULL Price Action: Webull shares were up 0.73% in after-hours, trading at $8.31 at the time of publication on Thursday, according to Benzinga Pro.
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