Webull Corp. (NASDAQ:BULL) shares slipped in Wednesday’s extended trading after the company released a mixed fourth-quarter earnings report.
Here’s a look at the details in the report.
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The Details: Webull reported quarterly earnings of one cent per share, which missed the Street estimate of four cents, according to Benzinga Pro.
Quarterly revenue clocked in at $165.2 million, which beat the consensus estimate of $160.81 million.
Webull reported the following fourth-quarter highlights:
- Total revenues increased 50% year-over-year to $165.2 million.
- Trading-related revenue increased 56% year-over-year.
- Total operating expenses increased 55% year-over-year.
- Customer assets totaled $24.6 billion representing 81% year-over-year growth, driven by market recovery and strong net deposits, which grew 225% year-over-year.
- Funded accounts increased to five million, representing 8% year-over-year growth.
- Registered users increased 15% year-over-year to 26.8 million users.
- Options contracts volume grew to 154 million, a 38% year-over-year increase and an increase of 5% from the previous quarter.
- Equity notional volume grew to $239 billion, representing an 87% year-over-year increase and an increase of 17% from the previous quarter.
- DARTs increased to 1.2 million, representing 55% year-over-year growth.
“I’m tremendously proud to report our first full-year results as a public company, including record revenues, AUM, customer accounts and the number of markets we serve,” said Anthony Denier, U.S. CEO of Webull.
Outlook:
BULL Stock Price: According to data from Benzinga Pro, Webull stock shed 2.97% to $5.89 in Wednesday’s extended trading.
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