Webull Corp (NASDAQ:BULL) reported second-quarter financial results after the market close on Wednesday. Here’s a rundown of the report.
- Webull stock is among today’s top performers. Why is BULL stock surging?
Webull Q2 Highlights
Webull reported second-quarter revenue of $198.83 million, beating estimates of $181.26 million, according to Benzinga Pro. The brokerage platform company posted second-quarter adjusted earnings of five cents per share, beating estimates of 3 cents per share.
Total revenue grew 51% year-over-year and 24% sequentially. Customer assets grew 79% year-over-year to $28.5 billion at quarter’s end, driven by net deposits, which grew 7% year-over-year. Registered users increased 13% year-over-year to 28.2 million and funded accounts rose 8% to 5.13 million.
“Q2 was the best quarter in Webull’s history,” said H.C. Wang, CFO of Webull.
Equity notional volume was up 73% year-over-year to $279 billion, and option contracts volume increased 68% year-over-year to 213 million.
Webull exited the quarter with approximately $701.62 million in total cash and cash equivalents.
Webull’s management team will further discuss the quarter on a call with investors and analysts at 5 p.m. ET.
BULL Shares Surge After Earnings
BULL Price Action: Webull shares were up 7.41% in after-hours, trading at $9.28 at the time of publication on Wednesday, according to Benzinga Pro.
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