TLDR
- eToro (ETOR) shares surged over 20% Tuesday after Q4 EPS of $0.71 beat the $0.60 analyst estimate
- Q4 net income rose 16% year-over-year to $68.7 million; full-year Net Contribution hit $868 million
- Crypto revenue dropped year-over-year but gains in equities and commodities made up the difference
- Coinbase and Robinhood both missed Q4 estimates, making eToro’s beat more striking
- January 2026 crypto trades fell 50% year-over-year, though total platform trades rose 55%
eToro shares closed up 20.4% at $33.07 on Tuesday after the trading platform posted a record Q4 profit and beat analyst expectations on earnings per share.
Q4 net income came in at $68.7 million, up 16% from a year ago. EPS hit $0.71, ahead of the $0.60 consensus estimate.
The result was made more impressive by the fact that both Coinbase and Robinhood missed Q4 forecasts during the same period, hurt by a slowdown in crypto trading activity late in the year.
For the full year 2025, eToro’s Net Contribution — its preferred non-GAAP metric — rose 10% to $868 million, compared to $788 million in 2024.
Crypto Revenue Falls, But Equities and Commodities Pick Up the Slack
Q4 crypto asset revenue on a gross basis came in at $3.59 billion, down from $5.8 billion in Q4 2024. Despite that drop, the company offset the decline through stronger revenue from equities and commodities trading.
CEO Yoni Assia told analysts on the earnings call that some crypto-focused users had started trading commodities for the first time.
“There’s somewhat of a convergence or a shift from crypto, which now has lower volatility, to now basically gold, silver and other commodities that have higher volatility,” he said.
Assia described the current moment as “pivotal” for financial services, pointing to artificial intelligence and blockchain infrastructure as forces reshaping how people invest.
The platform currently offers over 100 crypto assets to U.S. users.
January 2026 Data Shows Softer Crypto Activity
Despite the strong quarter, early 2026 data points to continued softness in crypto trading. eToro reported 4 million crypto trades in January, down 50% from January 2025. The average amount invested per crypto trade fell 34% to $182.
Total trades across all asset classes told a different story. January trades rose 55% year-over-year to 74 million, with the average investment per trade up 8% to $252, suggesting the platform’s diversification is absorbing the crypto slowdown.
The stock slipped slightly in after-hours trading, pulling back from its $33.07 close to around $33.
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