Swissquote, sharp drop in the stock market (cross-border guide)

Context

In a nutshell

• The financial services company Swissquote suffered a sharp drop in the stock market. - The stock fell to about 38 francs, also worsening the performance since the beginning of January, which is now -23%. - Over five years, however, the value has satisfied investors: the course has risen by 125%.

Key facts

• What: The financial services company Swissquote suffered a sharp drop in the stock market. - When: The company has announced its half-year results. - Where: The company is based in Gland, in the canton of Vaud. - Who: The company is led by a team of financial experts. - Amount: The value of the company has fallen by 11%.

The financial services company Swissquote suffered a sharp drop in the stock market, influenced by the weakness of cryptocurrencies and falling profits compared to analysts' estimates. The stock fell to about 38 francs, also worsening the performance since the beginning of January, which is now -23%. Over five years, however, the value has satisfied investors: the course has risen by 125%.

The company, which offers trading, portfolio management and financial advisory services, announced half-year results, which showed a decrease in profits compared to analysts' estimates. According to official data, the company's net profits fell by 12% in the half, reaching CHF 15.3 million. This result was influenced by the weakness of the

Operational details

The company said revenue rose 2% to CHF 364 million, significantly less than analysts had expected. Pre-tax profit came to 183 million (-1%), while net profits fell by 3% to 154 million.

The company, listed on the Zurich Stock Exchange, suffered a sharp drop in the stock market, with a loss of 5% of its share value. This drop was attributed to the expectations of investors, who expected a more significant increase in revenues.

Analysts had predicted a 5% increase in revenue, but the company instead announced an increase of only 2%. This has led to a reduction in investor expectations and, consequently, a decline in share value.

The company said revenues were affected by growing competition in the online trading platform industry. The company also said it is awaiting a decision from the Federal Finance Administration (FFA) on regulation for online trading platforms, which could affect its growth strategy.

The FFA has set a threshold of CHF 1.2 million for online trading platforms, which must comply with this regulation in order to operate in the industry. The company said it is awaiting a decision on the compliance of its online trading platform with this regulation.

The company also stated that it has an action plan to increase

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Key points

The company has adjusted downwards its forecasts for the year as a whole: revenues of around CHF 730 million are now forecast, compared to the CHF 760 million previously reported. The result before taxes is seen at 365 million (385 million in the valuation so far).

This decline is partly due to strong competition in the Swiss financial market, which has seen an increase in operating costs and a reduction in revenue. However, the company continues to invest in its infrastructure and staff, with the aim of improving the quality of services offered to its customers.

According to official data, Swissquote's turnover fell by 10% compared to the same period of the previous year, from 800 million to 730 million francs. The result before taxes was 365 million, compared to the expected 385 million.

Swissquote CEO Marc Bürki commented on the situation at a press conference held in Lugano: "We are aware that the financial market is constantly evolving and that we must be able to adapt to remain competitive. We are working to improve our service offering and to reduce operating costs. ”

The company also announced that it has invested 20 million francs in a new online trading platform, which will be launched within the next semester. This investment is part of a larger plan to improve the technology and security of the

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Source: tio.ch