Flow Traders Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 28, 2023 at 01:30 am EDT
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Flow Traders Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was EUR 49.5 million compared to EUR 84 million a year ago. Revenue was EUR 51.4 million compared to EUR 83.5 million a year ago. Net loss was EUR 4.3 million compared to net income of EUR 11.2 million a year ago. Basic loss per share from continuing operations was EUR 0.1 compared to basic earnings per share from continuing operations of EUR 0.26 a year ago.
For the six months, sales was EUR 160 million compared to EUR 232.7 million a year ago. Revenue was EUR 161.9 million compared to EUR 231.4 million a year ago. Net income was EUR 23.5 million compared to EUR 63.5 million a year ago. Basic earnings per share from continuing operations was EUR 0.54 compared to EUR 1.46 a year ago. Diluted earnings per share from continuing operations was EUR 0.52 compared to EUR 1.41 a year ago.
Flow Traders Ltd. is a principal trading firm. The group is a leading global technology-enabled liquidity provider specialized in Exchange Traded Products (ETPs). The group enables investors to buy and sell ETPs efficiently by quoting bid (buying) and ask (selling) prices on many exchanges simultaneously. Flow Traders Ltd. provides liquidity in a wide range of ETPs across the globe, tracking all asset classes including equities, fixed income, commodities and currencies.
In addition to providing liquidity on exchanges and on other trading venues, the group provides liquidity in ETPs off-exchange on a request-for-quote basis to over 2,400 institutional counterparties such as banks, asset managers, pension funds, insurance companies, family offices, hedge funds and others in 40 countries.