Siebert Financial's Q3 revenue falls on lower stock loan income
SIEB•Siebert Financial's third-quarter revenue fell year over year to $24.7 million, weighed by lower stock loan revenue. Advisory fees, principal transaction revenue and commissions grew.
1. Revenue and business updates
Lower stock borrow and stock loan revenue due to market conditions weighed on Siebert Financial's total revenue in the third quarter. Advisory fees, principal transaction revenue and commissions grew year over year; principal transaction revenue growth was attributed to market conditions. The company announced a leadership transition on November 3 and partnered with Unusual Whales and FusionIQ during the quarter.
2. Company outlook
Siebert expects its strategic partnerships to expand product offerings and market access. It remains focused on disciplined expense management and long-term earnings power.
