Companies

eToro's third-quarter profit drops 74% to $15 million

eToro's third-quarter profit fell 74% to $15 million as trading in crypto cooled. The company has authorized a $250 million share buyback, a plan to repurchase its own shares.

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eToro reported a third-quarter profit of $15 million, a fall of 74%. The company said the drop reflected weaker crypto trading.

eToro has authorized a $250 million share buyback. A buyback is a plan in which a company buys back its own shares from the market.

Separately, BitGo reported that its third-quarter revenue fell 51%, while its net income nearly doubled on crypto gains and treasury gains.

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