XTB shares hit all-time high after reporting Q3-2022 results
FNG Exclusive Analysis… Shares of publicly traded, Poland based online broker XTB SA (WSE:XTB) hit an all-time high on Friday, less than 48 hours after the company reported fairly strong financial and operating results for Q3-2022.
XTB didn’t post any records in its Q3 report, but did see a third consecutive quarter where its trading volumes, revenues and profits were well above corresponding levels in 2021. The company’s Q3 Revenues of $83 million, and Net Profit of $50 million, compared very favorably to averages of $33 million and $13 million, respectively, in all of 2021.
And although results at FX and CFD brokers do vary widely from quarter to quarter and year to year, depending on a number of extraneous factors such as overall financial market volatility (i.e. traders trade a lot more when there’s more and wider volatility), it seems as though investors are now giving XTB the benefit of the doubt, that it will consistently deliver strong results.
Traders have been bidding up XTB stock since early this year, with the shares crossing the PLN 26 level for the first time ever today. XTB shares briefly crossed the PLN 25 level in mid 2020, after volumes/revenues/profits soared (temporarily) at the outset of the COVID-19 pandemic, which was accompanied by wild market swings.
At PLN 26.02 per share – up 55% year-to-date in 2022 – XTB now has a market cap of just over PLN 3 billion, or USD $645 million.
XTB share price in PLN, past 5 years. Source: Google Finance.