FlatexDEGIRO : Q2 results beat consensus expectations on the top and bottom line
>Revenue and net income +5.4% and +7.7% above consensus estimates - Q2 results overall above ODDO BHF and consensus estimates. Commission income was up by +25.4% y-o-y to € 66.1m, in line with ODDO BHF and consensus expectations of € 66.9m and € 65.8m respectively. The increase in commission income was mainly driven by a +8.5% increase in commission per trade to € 4.33. Interest income saw a substantial increase y-o-y due to low comps in Q2 2023. Interest income incr...Flatex AG, formerly known as Fintech Group AG, is a Germany-based company engaged in the financial technology sector. The Company divides its business into two operational segments: Securities Trading and Financial Services (ST & FS) and Transaction Processing and White-Label Banking Services (TP & WLBS). The ST & FS segment includes online brokerage in the business-to-consumer (B2C) sector in Germany (on trading platforms such as flatex.de, vitrade.de) and Austria (flatex.at). The operations are conducted by the subsidiaries flatex GmbH and ViTrade GmbH. The TP & WLBS segment includes the business-to-business (B2B) activities of subsidiaries XCOM AG and FinTech Group Bank AG that focus on research and development in the area of financial technology and provide back-end execution of securities transactions for the Company's own platforms and for other banks, as well as offer business process outsourcing services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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