Swissquote posts revenue expectations of CHF 315 million, 5% higher than previous forecast

Steffy Bogdanova
January 14, 2021 9:48 am

Financial service provider Swissquote revised its expectations for revenue and profit in 2020. The company posted a solid jump in their expectations with total annual pre-tax profit of CHF 105 million on revenues amounting to CHF 315 million.

The online trading services provider surpassed its previous expectations for pre-tax profit of CHF 100 million on revenues amounting to CHF 300 million. The jump amounts to 5% more profit than previously anticipated.

The Swiss platform attributes the surge to a strong client growth during the year. The company revised its earnings expectations discovering organic net new money inflow of CHF 5.3 billion. Swissquote also revealed that its client assets rose to an all-time high of CHF 39.8 billion.

Swissquote

Swissquote provides financial services to retail and institutional traders, offering a range from trading with forex to CFS to stock and cryptocurrency CFDs. The company revised its outlook for the year for a second time. The first time was in August, when Swissquote posted its first half of the year results.

Swissquote reported operating revenues of CHF 162.7 million for the first half of 2020. The revenue was an almost 39% more than the first half of the previous year when it was CHF 117.2 million.

 

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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