$Tiger Brokers(TIGR)$Total revenues decreased 35.2% year-over-year to US$52.6 million.
• Total net revenues decreased 35.3% year-over-year to US$49.0 million.
• Net loss attributable to UP Fintech was US$5.9 million compared to a net income of US$21.1 million in the
same quarter of last year.
Overall decrease is expected after futu's results. futu reported revenue decrease of 25.6% vs tigr's 35.2%. However net loss of $6m is less than expected.
Tigr has 703k customers with deposits vs futu's 1,326k.
Paying customers increased over 80% yoy vs futu's 68%.
Although futu's results are marginally better, tigr still shows greater growth potential.
Overall a good set of results.
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