eToro’s Q3 Net Income Fell 74%; Board Approves Buyback of Up to $250M

eToro’s net income fell 74% to $15 million in the third quarter, and its board approved a share buyback of up to $250 million as crypto trading activity declined.

Net contribution totaled $186 million, down 13% from a year earlier, with the decline driven mainly by reduced cryptocurrency trading. Adjusted EBITDA fell 56% to $34 million.

Funded accounts reached 4.39 million by quarter-end, up 18% year over year. Assets under management totaled $20.8 billion, unchanged from the same period a year earlier.

In October, after the quarter closed, eToro’s crypto transaction count fell 62% year over year to 2 million. That later monthly figure shows the decline in crypto activity continued beyond the quarter, even as funded accounts had grown by quarter-end.

The results show different trends across eToro’s multi-asset trading platform: lower earnings and crypto activity, alongside growth in funded accounts and stable assets under management. The board’s approved repurchase program is capped at $250 million.