eToro Q1 Results Beat Estimates on Commodities Surge

eToro Group Ltd., the global multiasset trading platform listed on Nasdaq as ETOR, reported first-quarter 2026 results on Tuesday that exceeded Wall Street expectations, propelled by a surge in commodities trading that offset weakness in cryptocurrency activity.

The company posted adjusted earnings per share of 91 cents, surpassing the 73-cent analyst consensus. Net contribution rose 19 percent year over year to 258 million, while adjusted EBITDA climbed 35 percent to 109 million. Funded accounts grew 12 percent to 4.02 million, and assets under administration increased 15 percent to 17 billion. Revenue fell to 2.44 billion from 3.76 billion a year earlier, primarily due to lower crypto trading volumes.

Commodities trading emerged as the standout performer, accounting for about 60 percent of trading commissions, with volumes nearly quadrupling from the prior year. Net trading contribution from equities, commodities and currencies jumped 71 percent to 166 million. Chief Executive Officer Yoni Assia attributed the shift to a volatile macroeconomic environment, including geopolitical tensions affecting oil prices and inflation pressures on precious metals. Many commodities traders...