Webull Q3 Earnings: Revenue and EPS Surpass Forecasts, Customer Assets Up 84%
Webull Corp (NASDAQ: BULL) announced its financial performance for the third quarter on Thursday. The company’s results highlight significant growth and positive market engagement.
Q3 Earnings Overview
- Revenue: $156.94 million
- Consensus Estimate: $135.58 million
- Year-over-Year Growth: 55%
- Adjusted EPS: $0.07
- EPS Estimates: $0.02
Customer Asset Growth
Webull reported a remarkable increase in customer assets, which surged by 84% year-over-year, reaching $21.2 billion by the end of the quarter. This growth was attributed to a market recovery and strong net deposits, which increased by 31% from the previous year.
User Engagement and Account Growth
- Registered Users: 25.9 million (up 17% year-over-year)
- Funded Accounts: 4.93 million (up 9% year-over-year)
Trading Volume Statistics
Webull’s trading metrics also showed substantial growth. The equity notional volume increased by 71% year-over-year, reaching $204 billion. Additionally, option contracts volume rose by 24% to 147 million.
Market Innovations
Anthony Denier, Group President and U.S. CEO of Webull, stated that the company continues to enhance its platform. He highlighted the launch of Vega, an AI tool providing personalized market analysis. The company has also expanded its offerings to include corporate bonds and event-based prediction markets.
Financial Position
As of the end of the quarter, Webull maintained approximately $654.8 million in total cash and cash equivalents, reflecting its solid financial foundation.
Future Outlook
Webull executives plan to discuss these results in greater detail during an upcoming session with investors and analysts at 5 p.m. ET.
Following the earnings announcement, Webull shares experienced a slight increase of 0.73%, trading at $8.31 in after-hours markets.
