eToro (NASDAQ:ETOR) reported first-quarter results on Tuesday that came in ahead of Wall Street expectations, supported by a sharp increase in commodities trading activity that helped counter softer cryptocurrency volumes.
Shares of the company rose about 1.2% in pre-market trading following the earnings release.
The online trading and investment platform posted adjusted earnings per share of $0.91, exceeding analyst expectations of $0.67 by $0.24.
Commodities Activity Drives Strong Performance
Quarterly revenue totaled $2.44 billion, down 35% from $3.76 billion in the same period last year.
However, net contribution — a company metric that excludes certain costs — increased 19% year-on-year to $258 million from $217 million in the prior-year quarter.
eToro said the performance was driven largely by strong demand for commodities trading.
According to the company, commodities represented approximately 60% of total trading commissions during the quarter, while trading volumes in the segment increased nearly fourfold compared with a year earlier.
Profit and EBITDA Improve
Net income rose 37% year-on-year to $82 million, compared with $60 million in the first quarter of 2025.
Adjusted EBITDA increased 35% to $109 million from $80 million a year earlier.
The company also continued to expand its user base and assets under management.
Funded accounts increased 12% year-on-year to 4.02 million, while assets under administration climbed 15% to $17.0 billion.
“I’m incredibly proud of the eToro team for delivering our strongest quarterly financial results as a public company, while continuing to accelerate product innovation,” said Yoni Assia, CEO and Co-Founder of eToro.
eToro Expands Product Offering and Crypto Presence
During the quarter, eToro introduced several new products and platform enhancements.
The company launched 24/7 trading for selected commodities, equities and indices, expanded access to Japanese equities and rolled out cryptocurrency trading services in New York.
eToro also announced the acquisition of Zengo, a self-custodial crypto wallet company.
The acquisition was completed on April 30, 2026.