Financial service provider Swissquote revised its expectations for revenue and profit in 2020. The company posted a solid jump in their expectations with total annual pre-tax profit of CHF 105 million on revenues amounting to CHF 315 million.
The online trading services provider surpassed its previous expectations for pre-tax profit of CHF 100 million on revenues amounting to CHF 300 million. The jump amounts to 5% more profit than previously anticipated.
The Swiss platform attributes the surge to a strong client growth during the year. The company revised its earnings expectations discovering organic net new money inflow of CHF 5.3 billion. Swissquote also revealed that its client assets rose to an all-time high of CHF 39.8 billion.