Toss Securities' Third-Quarter Net Profit Falls 8% to $68.9 Million
Summary
- Toss Securities said third-quarter net profit of 95.4 billion won ($68.9 million) fell 8% from a year earlier and 37.4% from the previous quarter.
- The company said third-quarter revenue of 515.1 billion won ($372 million) rose 134% from a year earlier to a quarterly record, while operating profit of 128.7 billion won ($93 million) fell 3%.
- It said commission income of 30.98 billion won ($22.4 million) from increased domestic stock trading surged 236.7% from a year earlier, while trading value reached 237.8 trillion won ($171.8 billion), about 3.6 times higher than a year earlier.
Forecast Trend Report by Period
Toss Securities posted third-quarter net profit of 95.4 billion won ($68.9 million), down 8% from a year earlier.
In a regulatory filing on November 13, the company said net profit fell 37.4% from the previous quarter to 95.4 billion won, compared with 152.5 billion won in the prior three months.
Revenue rose 134% from a year earlier to a quarterly record of 515.1 billion won ($372 million). Operating profit slipped 3% to 128.7 billion won ($93 million).
Growth was driven by higher commission income from increased domestic stock trading. Domestic stock commission revenue surged 236.7% from a year earlier to 30.98 billion won ($22.4 million) in the third quarter, up from 9.2 billion won.
The gain reflected the end of a commission-free promotion for domestic stock trading that ran from December last year through June this year.
Domestic stock trading value also jumped to 237.8 trillion won ($171.8 billion) from 66 trillion won a year earlier, roughly a 3.6-fold increase.
Uk Jin
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