Tiger Brokers operator in Fintech sees record income that occupies $ 100 million in the fourth quarter-2024

Up Fintech Holding Limited (Nasdaq: TIGR), which operates the online broker brand Tiger Brokers, has announced its financial results for the fourth quarter of 2024, on which the quarterly sales revenue, but a lower net profit for the company, occurs.

The net turnover was $ 107.4 million in the fourth quarter and in 2024 of USD DAS $ 107.4 million that sales at Up Fintech exceeded $ 100 million in a quarterly $ 85.4 million by $ 26%. Due to the increasing costs and a large foreign currency adjustment, the net profit of $ 10.9 million was 68% in the fourth quarter compared to the record profit of $ 33.9 million in the third quarter of the company.

Commercial volumes at Tiger Brokers came in the fourth quarter with a record of 198.0 billion US dollars, or 66 billion US dollars per month. The number of customers with financed accounts achieved 1.09 million in the third quarter of 1.03 million in the third quarter of 2024.

Up Fintech has the Tiger Broker Online Brokerage Brand, which runs licensed subsidiaries in the USA, Australia, New Zealand, Hong Kong and Singapore. Tiger Broker aims at mainly Chinese dealers and other selected markets in the Far East. The company is controlled by the founder and majority shareholder Wu Tianhua based in Beijing.

Wu Tianhua, Chairman and CEO von Up Fintech, explained,

“Both financial and operational performance achieved significant growth in the fourth quarter. Quarter quarter-growth of 58.0% and with a net loss of 1.8 million in the same quarter of the previous year, a net loss of $ 1.8 million. Express an internationalization strategy and build a resilient business model with a healthier surgical lever.

“In the fourth quarter, we added 59,200 customers to an increase of 17.2% compared to the quarter and 51.4% compared to the previous year, which exceeds our annual guidance of 150,000, which has exceeded the total number of customers with a deposit of 2024. In the fourth quarter, this was 36.4% in the previous year in the total number of 2.4% by 2.4% and 36.4% of the previous year.

“We have triggered a number of localized products and functions to improve user experience.

“Our company business continued to do well in the fourth quarter of 2024. Added and the total number of ESOP customers led to 613 on December 31, 2024. “

The press release from FinTech / Tiger brokers, in which the results of the fourth 2024 and the full year are to be obtained, can be found here.