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 O’Connor Source: Twitter
We achieved very strong results in the fiscal first quarter 2023, delivering increases in operating revenues and net income.
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.
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.