eToro earnings: Q3 beat as crypto trading lifts results

Investors reacted to eToro etearnings after the firm released Q3 numbers on November 10, 2025, showing stronger crypto trading and higher net interest income, which helped an adjusted EBITDA beat and prompted a $150 million share buyback announcement.

How did eToro earnings reflect crypto trading revenue and adjusted EBITDA?

eToro reported adjusted EBITDA of $78 million, beating KBW’s $70 million estimate and the $70.6 million consensus. That outperformance came from a mix of higher contribution margins and disciplined cost control, which analysts said lifted operating results.

Total net contribution rose to $215 million, surpassing KBW’s $208 million forecast. In particular, crypto trading revenue reached $56 million, well above the $36.3 million expectation, and net interest income added extra upside.

CoinDesk summarized the firm’s performance, noting the quarter ‘topped expectations as stronger crypto trading activity lifted results.

What do the share buyback and funded accounts growth signal for assets under administration?

The company announced a $150 million share repurchase program, including a $50 million accelerated buyback. On a GAAP basis, net income was reported at $57 million, reflecting the quarterly uplift and tax and interest effects.

eToro ended the quarter with 3.73 million funded accounts and $20.8 billion in assets under administration, metrics that support the capital return decision. KBW flagged that the $0.07 per-share EBITDA beat split into a $0.06 contribution boost and a $0.01 operating-cost reduction.

Analysts noted the platform’s fee mix benefited from crypto volumes that surged during the period, which helped offset softer equities and commodities trading. That said, sustaining margins will depend on continued retail activity and interest income.

Looking ahead, the near-term outlook hinges on execution of the buyback and the platform’s ability to keep crypto flows elevated. Investors will watch whether these dynamics translate into persistent earnings improvement.

source-check: CoinDesk Nov 10, 2025; eToro Q3 2025 press release