Robust Q3 2022 data reflects XTB’s record high achievement
XTB has published its financial report for the third quarter of 2022, sharing some impressive numbers. One such figure is the price of its shares which has inched closer to its all-time high value. Shares were last seen trading at PLN 28.80, only 2% away from their highest value since July 28, 2022. The price on that day was PLN 29.30 for every share bought.
While the shares have gained 22% in the current year, their growth since the beginning of the Covid-19 pandemic has been impressive. A growth of 800% by the shares of XTB, one of the regulated forex brokers in the UK, has been registered in the books. A decision if this is the peak for selling shares is worth considering, though.
Net Income and Net Profit are other aspects touched on in the previous quarter’s financial report. Despite operating expenses going up, there has been a minimal effect on the Net Profit of PLN 236,219 million. However, this is an increase of 126% compared to the figure for the last year of PLN 104,305 million.
The net income of a CFDs Brokerage and Polish forex group, PLN, touches the mark of 258,743 million, with the total Operating Income registering PLN 391,289 million against PLN 191,260 for the same quarter in the last year.
The total number of new clients decreased to 142,825 from 146,427 since the beginning of 2022; however, the total number of active users has increased by 39.7% year-on-year. Last year, 160,600 users were seen actively engaging with the platform.
According to a statement published in the financial report, the Management Board at XTB aims to add a minimum of 40,000 new clients every quarter. It has managed to do that by acquiring 55.3 thousand clients in Q1, 45.7 thousand in Q2, and 44.8 thousand in Q3. About October 2022 alone, nearly 17.6 thousand new clients have come on board, with more expected to register in the coming days.
Net Profit has increased so far. With more clients registering on the platform, there is a wide scope for XTB to perform better, especially because Net Profit for XTB Rises in the First Quarter Of 2022, and there has rarely been a decline since then. Traders in 16 languages can access the platform. Traders can check here for more details about the official platform and the list of languages, customer services, and essential highlights.
XTB has been rated among the top platforms in terms of ease of use, reputation, and fees. With share prices inching closer to their all-time high value, it remains to be seen if there will be a new peak or if the graph will return to the previous slightly lower value.
