Robust earnings and a growth in its eFX segment has Swissquote's stock soaring to 2017 highs.
Swissquote Group Holding SA (SWX:SQN) reported its latest earnings for Q2 ending June 30, 2017. In doing so the Swiss financial services provider saw an explosion of its net revenues and overall earnings, driving its share prices to the highest level since September 2014.
Looking specifically at Swissquote’s Q2 earnings, the group saw its net revenues increase by 19.0 percent higher year-over-year to CHF 89.1 million ($92.4 million) in the six months ending on June 2017. This was also higher on a quarterly basis, justifying a jump of 18.0 percent when compared to the first half of last year.
Outperformance of key financials
Swissquote also saw an outperformance in its operating revenues, which rose by a robust margin of 17.7 percent to CHF 90.5 million ($92.8 million). This was mainly attributed to a methodic rise in fees, commissions and electronic FX trading. With regards to its eFX segment, revenues hit a new all time high of over CHF 32.6 million ($33.8 million), which is higher by 16.5 percent when compared to the same period a year ago.
Breakout in share prices
The group’s share prices (SWX:SQN) have been maintaining a slightly upward tone in 2017, with the last major move taking place in March of this year. Year-to-date, Swissquote shares had already been noticeably higher even before its recent earnings release, rising by 18.4 percent since January 1, 2017.
However, yesterday’s earnings provided a needed impetus that catapulted Swissquote’s shares out of a narrow consolidation seen in place since May 2017. On the heels of the positive earnings, shares surged over 13.0 percent at the time of the earnings release, with its strong metrics helping bolster the group’s case to shareholders.
Internal developments signaling strength
Swissquote has already had an eventful Q2, highlighted by a series of company developments that have corresponded to its financial outperformance. As mentioned above, the group’s eFX segment was very strong in Q2, with accounts growing 32.0 percent year-over-year. Meanwhile, Swissquote also continued capitalizing on its robo-advisory ePB accounts, swelling to 1,652 in the quarter, or 15.0 percent higher year-over-year.
Last month, the Swiss bank also became the first online bank to launch Bitcoin trading. The company has since pioneered a new product for the brokerage industry, opting to launch trading in the virtual currency without Leverage – a noteworthy development. Clients of the Swiss brokerage will be able to exchange euros and USD into Bitcoin using their trading accounts.
Back in November, Swissquote's CEO Marc Burki noted that: "technology is very important but at same time the regulatory environment that companies operate under and the amount of capital operated under is critical going forward."
Earlier in the quarter, the group also unveiled a series of social media upgrades that dealt with pertinent trading events, namely the French elections. During Q2 Swissquote deployed multiple utilities to help fortify the tools at FX traders’ disposal. Moreover, Swissquote extended its product cope on its over-the-counter (OTC) Trading Platform, Swiss DOTS, enlisting Vontobel Investment Banking as its fifth issuer.
Swissquote Group Holding SA (SWX:SQN) reported its latest earnings for Q2 ending June 30, 2017. In doing so the Swiss financial services provider saw an explosion of its net revenues and overall earnings, driving its share prices to the highest level since September 2014.
Looking specifically at Swissquote’s Q2 earnings, the group saw its net revenues increase by 19.0 percent higher year-over-year to CHF 89.1 million ($92.4 million) in the six months ending on June 2017. This was also higher on a quarterly basis, justifying a jump of 18.0 percent when compared to the first half of last year.
Outperformance of key financials
Swissquote also saw an outperformance in its operating revenues, which rose by a robust margin of 17.7 percent to CHF 90.5 million ($92.8 million). This was mainly attributed to a methodic rise in fees, commissions and electronic FX trading. With regards to its eFX segment, revenues hit a new all time high of over CHF 32.6 million ($33.8 million), which is higher by 16.5 percent when compared to the same period a year ago.
Breakout in share prices
The group’s share prices (SWX:SQN) have been maintaining a slightly upward tone in 2017, with the last major move taking place in March of this year. Year-to-date, Swissquote shares had already been noticeably higher even before its recent earnings release, rising by 18.4 percent since January 1, 2017.
However, yesterday’s earnings provided a needed impetus that catapulted Swissquote’s shares out of a narrow consolidation seen in place since May 2017. On the heels of the positive earnings, shares surged over 13.0 percent at the time of the earnings release, with its strong metrics helping bolster the group’s case to shareholders.
Internal developments signaling strength
Swissquote has already had an eventful Q2, highlighted by a series of company developments that have corresponded to its financial outperformance. As mentioned above, the group’s eFX segment was very strong in Q2, with accounts growing 32.0 percent year-over-year. Meanwhile, Swissquote also continued capitalizing on its robo-advisory ePB accounts, swelling to 1,652 in the quarter, or 15.0 percent higher year-over-year.
Last month, the Swiss bank also became the first online bank to launch Bitcoin trading. The company has since pioneered a new product for the brokerage industry, opting to launch trading in the virtual currency without Leverage – a noteworthy development. Clients of the Swiss brokerage will be able to exchange euros and USD into Bitcoin using their trading accounts.
Back in November, Swissquote's CEO Marc Burki noted that: "technology is very important but at same time the regulatory environment that companies operate under and the amount of capital operated under is critical going forward."
Earlier in the quarter, the group also unveiled a series of social media upgrades that dealt with pertinent trading events, namely the French elections. During Q2 Swissquote deployed multiple utilities to help fortify the tools at FX traders’ disposal. Moreover, Swissquote extended its product cope on its over-the-counter (OTC) Trading Platform, Swiss DOTS, enlisting Vontobel Investment Banking as its fifth issuer.
MultiBank.io: Chartering The Future Of Regulatory-Compliant Cryptocurrency Trading
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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