Swissquote's revenue grows to 315 million Swiss francs
Swissquote has published its revised revenue expectations for 2020. Results are higher than previous estimates. The broker expects profit for the year to be 105 million swiss francs and total revenues - 315 million swiss francs.
As a reminder, the company previously estimated its net profit for the year at 100 million swiss francs, and revenue in 2020 at 300 million swiss francs. This shows 5% growth in both directions. The Swiss broker revised its forecasts due to the influx of a significant number of new clients at the end of the year. In addition, the company's employees recorded the highest volume of user assets - 39.8 million swiss francs.
The Swiss finance company has already revised its 2020 forecasts twice. The first time this was done after the publication of the financial report for the first half of the year. Swissquote is actively expanding its business to deliver even better results in 2021. Specifically, the company partnered with Tesla last month to jointly launch digital leasing.
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