Up Fintech Hldg Ltd Stock Price, News & Analysis

UP Fintech Holding Limited (TIGR) reported a revenue of US$53.5 million for Q2 2022, reversing from a US$4.4 million loss to a US$3.5 million net income. Customer accounts grew to 1.9 million, with deposits rising by 38.2% year-over-year. The company retained over 99% of its customers in Singapore, reflecting strong user loyalty, while net asset inflow reached US$1.5 billion. Significant growth was also observed in Australia, with user registrations increasing by 81% quarter-over-quarter. Additionally, the Tiger Trade app's updated version enhances user experience and customization.

UP Fintech Holding Limited (NASDAQ: TIGR) reported its unaudited financial results for Q2 2022, revealing total revenues of US$53.5 million, a 11.2% decline year-over-year but a 2% rise sequentially. The company added 27,900 funded accounts, reaching a total of 731,400, with an increase of 38.2% from the previous year. Despite a 2.3% drop in account balances to US$14.9 billion, net loss significantly improved to US$0.9 million from US$21.5 million a year ago. Non-GAAP net income reached US$3.5 million, up from a loss of US$4.4 million.

UP Fintech Holding Limited (NASDAQ: TIGR) will report its Q2 2022 financial results on September 7, 2022, before the U.S. market opens. A conference call is scheduled for 8:00 AM U.S. Eastern Time, accessible via preregistration. The firm emphasizes a 'mobile first' strategy, catering to global investors through its trading platform. With a focus on innovation in financial services, it aims to enhance user experience and attract new customers. An archived webcast will also be available following the call.

Interactive Brokers Group, Inc. (Nasdaq: IBKR) reported a GAAP diluted EPS of $0.72 and adjusted EPS of $0.84 for Q2 2022, down from $1.00 and $0.82, respectively, year-over-year. Net revenues were $656 million, a decrease from $754 million in the previous year. Notably, commission revenue rose 5% to $322 million, while net interest income surged 27% to $348 million. However, a significant loss in other income totaling $57 million impacted overall earnings. Total equity stands at $10.6 billion, with a declared quarterly dividend of $0.10 per share. Customer accounts increased by 36% to 1.92 million.

UP Fintech Holding Limited (TIGR) reported Q1 2022 results with total revenue of US$52.6 million and a non-GAAP net loss of US$1.9 million. Customer accounts rose to 1.9 million, with deposits up 87.1% year-over-year. The company reported a net asset inflow of US$3.5 billion. In Singapore, registered accounts accounted for 19% of the population aged 20-70. Wealth management assets under management (AUM) increased significantly, with the Fund Mall AUM up 99.4% year-over-year. Tiger Trade gained recognition in Australia and ranked third in U.S. IPO underwriting by deal count.

UP Fintech (NASDAQ: TIGR) reported a 35.2% decrease in total revenues for Q1 2022, totaling US$52.6 million due to declining trading volumes. Net loss attributable to the company was US$5.9 million, down from a net income of US$21.1 million year-over-year. Despite challenging market conditions, the company added 30,150 funded accounts, increasing total accounts to 703,500, reflecting an 87.1% year-over-year growth. The firm also experienced a net asset inflow of US$3.5 billion.

UP Fintech Holding Limited (NASDAQ: TIGR) will announce its financial results for Q1 2022 on June 10, 2022, prior to U.S. market opening. The company is a prominent online brokerage serving global investors, focusing on a mobile-first strategy to enhance user experience and attract new customers. An earnings conference call is scheduled for the same day at 8:00 AM ET. Participants must preregister to receive dial-in details. A replay will be available until June 18, 2022.

Interactive Brokers Group reported GAAP diluted EPS of $0.74 for Q1 2022, down from $1.16 a year ago. Adjusted EPS was $0.82 versus $0.98 in the prior year. Net revenues fell by 28% to $645 million compared to $893 million in Q1 2021. Commission revenue decreased 15% to $349 million, while net interest income declined 8% to $282 million. Customer accounts surged 36% to 1.81 million, and customer equity rose 8% to $355.9 billion. The company declared a quarterly dividend of $0.10 per share.

UP Fintech Holding Limited (Nasdaq: TIGR) announced the resignations of Ms. Xian Wang and Mr. David Friedland as directors, effective March 18, 2022. Ms. Wang's resignation was due to the expiration of her service agreement, while Mr. Friedland left for personal reasons. Importantly, both resignations occurred without any disagreements with the company. UP Fintech is a leading online brokerage focusing on global investors, providing a comprehensive trading platform and a range of innovative services.