Tiger Brokers (TIGR.US) Q3 revenue hits new high, net profit up 25.6% YoY

Market IntelTuesday, Nov 12, 2024 7:40 am ET

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Before the US stock market opened on November 12, TIGR.US, a brokerage firm, released its unaudited financial data for the third quarter ending September 30, 2024. The financial data showed that TIGR's third-quarter revenue reached US$101 million, up 15.6% quarter-on-quarter and 44.1% year-on-year, setting a new record. The net profit attributable to the parent was US$20.1 million, up 286.5% quarter-on-quarter and 25.6% year-on-year.

In the third quarter, TIGR added 60,000 new global account holders, bringing the total to 2.37 million, up 10.2% year-on-year. The number of new depositing clients reached 51,000, driving the total number of depositing clients up 19.3% year-on-year to 1.033 million. In addition, market trading remained active, with the total trading volume up 103.1% year-on-year to US$163 billion; net deposits continued to be strong, driving customer assets up 6.7% quarter-on-quarter and 115.9% year-on-year to US$40.8 billion, a new record.

TIGR's founder and CEO, Wux Tianhua, said: "In the third quarter, with the continuous improvement of product experience, the Company's business grew significantly, with revenue exceeding US$100 million for the first time in a single quarter, a new high, and profit also hitting a new high in three years, with customer assets doubling year-on-year to US$40.8 billion. As of now, the Company has added 150,000 new depositing clients this year, completing its annual target ahead of schedule. Global users are trading enthusiastically, with total trading volume up more than double year-on-year."

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