Why Online Brokerage Firm UP Fintech's Stock Is Surging Today
Portfolio Pulse from Lekha Gupta
UP Fintech Holding Ltd (NASDAQ:TIGR) reported Q2 revenue growth of 23.5% Y/Y to $66.1 million, beating the consensus of $44.65 million. Despite a decrease in commissions due to lower trading volume, the company saw increases in financing service fees and interest income. The total account balance rose 16.2% Y/Y to $17.3 billion and the total number of customers with deposits increased by 15.0% Y/Y. The company also beat the consensus for non-GAAP net income per ADS.
August 29, 2023 | 1:33 pm
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UP Fintech's Q2 earnings beat expectations, with significant growth in revenue and increases in financing service fees and interest income. This positive financial performance could boost investor confidence.
UP Fintech's Q2 earnings report showed strong financial performance, with revenue growth and increases in financing service fees and interest income. This positive news could lead to increased investor confidence and a potential rise in the company's stock price.
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