StoneX sees 32% fall in FX and CFDs revenue in Q1 FY23

Nasdaq-listed StoneX Group Inc. today announced its financial results for the first quarter of the fiscal year 2023 ended 31 December 2022.

For the three months between October and December 2022, the international brokerage reported an overall revenue fall of 9% to $13 billion.

Operating revenue, however, surged 45% compared to the first quarter the previous financial year and stood at $654.8million. The numbers were also 12.2% up compared to fourth quarter of FY22.


In the first quarter of the year, net income came at $76.6 million during the first quarter, registering a 84% jump compared to Q1 FY22.

StoneX’s ROE also improved by 27.3% in Q1 FY23. The diluted earnings per share (EPS) jumped 77% during the last quarter to $3.62 per share.

FX and CFDs demand

The forex and contracts for differences (CFDs) market generated operating revenue of $48.8 million, dropping 32% compared to the same period the previous year. The figure fell 40% on quarter-on-quarter basis.

Sean M. O’Connor, CEO of StoneX Group Inc., stated:

Sean M. O’Connor, StoneX

Sean O’Connor
Source: Twitter

We achieved very strong results in the fiscal first quarter 2023, delivering increases in operating revenues and net income.

He added:

While trading conditions moderated towards the end of the first quarter, the multiple drivers of our results, including our disciplined approach to acquisitions, the strong growth in client assets and our core operating performance, exemplify the diversity in our operating model. We believe that these multiple drivers and our ongoing investments position us to continue to empower our clients, drive growth and deliver shareholder value.


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