Siebert Financial Q2 revenue more than doubles on growth in stock loan, investment banking units
SIEB•Overview
- US financial services provider's Q2 revenue more than doubled yr/yr to $31.2 mln
- Operating loss narrowed, aided by absence of prior-year equity investment losses
- Company expanded platform with tokenized securities and cross-border market access collaborations
Result drivers
- Stock borrow/stock loan - Revenue from stock borrow/stock loan rose 43% yr/yr to $10.8 mln
- Investment banking - Investment banking revenue increased to $2.4 mln from $0.2 mln in the prior-year quarter
- Absence of investment losses - Operating loss narrowed, aided by the absence of prior-year $6.8 mln equity investment losses
Outlook and key details
- Siebert did not provide specific financial guidance for the current or upcoming periods
| Metric | Actual |
|---|---|
