StoneX Reports $55.3 Million in Net Income during the Last Quarter

StoneX Group, a leading financial services provider, yesterday reported its financial results for the second quarter of FY 21 which ended on 31 March 2021. The company saw a jump of 29% in quarterly revenues as the total operating revenues touched a record high of $471.4 million in the last quarter.

According to the official results, StoneX saw a net income of $55.3 million in the last quarter, which is up by 41% compared to the same period in 2020. Additionally, the financial services provider reported quarterly diluted EPS of $2.73 per share.

Commenting on the latest financial results, Sean M. O’Connor, CEO of StoneX Group, said: “I believe this quarter represents the strongest core operating performance in our history, with record operating revenues, a 41% increase in net income versus the prior year, and a 26.7% ROE on stated book value. This quarter demonstrates our efforts to build a diversified global franchise with growth in operating revenues and income across all of our operating segments. We continue to increase both our number of clients and their underlying volumes, which we feel positions us for success in the future.”

StoneX reported a jump of 20% in operating revenue from securities transactions. Global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term revenue reached $32.8 million in the last quarter, which is up by 14% compared to the same period in 2020.

FX/CFD Revenues

StoneX highlighted a significant spike in operating revenues from FX/CFD contracts, which is mainly due to the recent acquisition of Gain Capital Holdings.

“Operating revenues from FX/CFD contracts increased $65.8 million, to $74.7 million in the three months ended March 31, 2021, as a result of an incremental $71.2 million in retail FX/CFD contracts operating revenues resulting from the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Gain Capital Holdings, Inc. ('Gain') which was partially offset by lower FX operating revenues in our legacy FX prime brokerage business,” the company mentioned in the official press release.

The financial services provider saw a jump of 108% in operating revenues from physical contracts due to strong customer demand for precious metals.