🐯 Brokers is a BUY for me❣️ What about you ❓
UP Fintech/🐯 Brokers Q3 Earnings:
⭐️ Revenue: US$55.41 million
⭐️ Net income: $3.34 million
⭐️ Non-GAAP net income: $6.63 million, up 91.3% quarter-over-quarter🥳🥳🥳
⭐️ Number of new customer accounts increased by 35,400, totaling 1.97 million globally, up 11.5% from the same quarter last year.
⭐️ Number of new customers with deposits rose by 22,700 to 754,100, up 23.2% from the same period last year.
⭐️ New customers from Australia and New Zealand: 19% of the total
⭐️ Total trading volume from customers stood at US$78.2 billion
➡️ $23.5 billion was on share trading
➡️ $7.7 million options and futures contracts
⭐️ Net asset inflow from customers exceeded $700 million
⭐️ Average net deposit of newly acquired clients has grown for the 2nd consecutive quarter, passing the US$11,000 threshold in the Q3, up from US$9,000 in Q2
⭐️ 98% customer retention
(1) Fractional share introduction was widely celebrated🥳
(2) All 🇸🇬-registered accounts were upgraded by merging share and fund trading operations, enabling the deposit in customers' margin accounts for 🇺🇸 stocks to be directed for fund trading to alleviate liquidity restraint.
(3) Cash management services in 🇸🇬 were elevated to become Tiger Vault, where customers' in-account deposits can be directly for shares, options, and fund trading, as well as for IPO subscriptions, a move that facilitates the asset management flow.
⭐️ The brand-new Tiger Vault has received positive feedback in Singapore, where the asset under management (AUM) in total was up 120.1% quarter-over-quarter, and the number of users increased by 61.3% quarter-over-quarter.
(1) "Fintech - Brokerage" award at the SBR Technology Excellence Awards 2022 from the Singapore Business Review
(2) Excellent customer service was recognized in Best Customer Service 2022/23" survey by Straits Times and Statista
(3) Best for Australian investors", "People's choice", and "Best for ETFs" recognition from well-known investing media outlet WeMoney.
(4) Other revenues, including investment banking and employee stock ownership plan (ESOP), reached US$4 million 🐯Brokers participated in 12 🇭🇰 and 🇺🇸 IPOs, served as an underwriter in 11 of these listings, and was the lead bank in 2 🇺🇸 IPOs.
(1) 🐯 is very popular in 🇸🇬 & gaining ground slowly in Aus🇦🇺 and NZ🇳🇿, with Q4 expansion into 🇭🇰 (Dec) which is a major financial market, 🐯 is poised to increase its earnings🥳🥳🥳
(2) They have also reduced costs by no longer offering expensive 🍎 shares for sign-up offers.
(3) They actively retain customers by their engaging platform with multiple events, educational resources, & incentive programs🤗
(4) Q3 earnings are up despite high inflation & interest rates👍👍👍
(5) Analysts' projections look positive🤩😍 and most importantly, I have confidence in 🐯's growth as their active user😉
Fellow 🐯🐯🐯, I’m bullish about 🐯 Brokers given the above. What about you❓
Do share your thoughts in the comments section and please help to click on the “Like” and “Share/Repost” buttons, so that more 🐯🐯🐯 can access this information, many thanks🤗🥰
As usual-🤔💭 Consider POV & Actions of investors + 👩🏻💻👨🏻💻 Research + 🗑FOMO & Greed = Investing Wisely 🤓🤗 + Accumulating Wealth 💵💰
Source: Tiger Brokers & CNN Business
Modify on 2022-11-24 10:05
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