Overview
Siebert Q3 revenue grows 19% yr/yr to $26.8 mln
Operating income falls 54.8% due to investments in new business lines
Company renews clearing relationship with National Financial Services for five years
Outlook
Siebert Financial renews clearing relationship with NFS for five years
Company launches Digital Assets Research for crypto and blockchain coverage
Siebert debuts 'Generation Wealth' campaign to engage Gen Z
Result Drivers
STOCK BORROW/LOAN - Increased by 73.7% to $10.0 mln, contributing to revenue growth
ADVISORY FEES - Grew by 32.1% to $0.8 mln, supporting revenue increase
INVESTMENTS IN NEW BUSINESS - Operating income fell due to investments in new business lines like Siebert Pro and Gebbia Media
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$26.80 mln
Press Release: ID:nGNX6nfzZn
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)