eToro reported third-quarter earnings that exceeded analyst expectations, driven by strong crypto trading activity. The company's adjusted EBITDA reached $78 million, surpassing forecasts, while net income rose 48% to $57 million. This performance prompted a $150 million share buyback announcement.
eToro, the online trading platform, announced its third-quarter results on Monday, November 10, 2025, showing robust growth fueled by cryptocurrency trading. According to investment bank KBW, the company's adjusted EBITDA of $78 million beat its $70 million estimate and the consensus of $70.6 million, marking a 43% increase from the previous year. This outperformance stemmed from a $0.07 per-share EBITDA beat, including a $0.06 boost in total net contribution and a $0.01 reduction in operating expenses.
Crypto trading revenue significantly contributed, reaching $56 million against KBW's expectation of $36.3 million, surpassing estimates by $0.16 due to higher volumes and fees. Net interest income also topped forecasts by $0.07, offsetting shortfalls of $0.17 in equities, commodities, and currencies. Overall, total net contribution climbed to $215 million, above the $208 million forecast.
GAAP net income increased 48% year-over-year to $57 million, ahead of projections. The company ended the quarter with 3.73 million funded accounts, up from 3.63 million in the prior quarter and slightly above KBW's 3.7 million estimate. Assets under administration grew to $20.8 billion from $17.5 billion.
In response, eToro unveiled a $150 million share repurchase program, including a $50 million accelerated buyback. Shares initially rose as much as 3.2% in early trading but were recently 0.1% lower at $34.83.