tiprankstipranks
Freedom Holding Corp. Reports Robust Financial Performance
Company Announcements

Freedom Holding Corp. Reports Robust Financial Performance

Freedom Holding Corp ( (FRHC) ) has released its Q2 earnings. Here is a breakdown of the information Freedom Holding Corp presented to its investors.

Don't Miss Our Christmas Offers:

Freedom Holding Corp., a financial services company in the securities brokerage and banking sector, offers a range of services including investment research, banking, and insurance, with a strong presence in Kazakhstan and expanding operations across the United States and Europe. In their latest earnings report for the quarter ended September 30, 2024, Freedom Holding Corp. showcased a solid financial performance with total assets reaching $8.8 billion, up from $8.3 billion in the previous quarter. The company reported a net income of $114.7 million, a slight decrease from $115.8 million in the prior year, reflecting strong revenue streams from fee and commission income, interest income, and insurance underwriting. Key financial highlights include a 33% increase in total revenue to $580.9 million, driven by significant growth in insurance underwriting income and a notable net gain on trading securities. Despite a rise in expenses, mainly due to increased fee and commission expenses, the company maintained a robust income before tax of $128.5 million. Looking ahead, Freedom Holding Corp. appears well-positioned to capitalize on its diverse portfolio and strategic investments, maintaining a cautiously optimistic outlook as it navigates the evolving financial landscape.

Related Articles
TheFlyFreedom Holding reports Q1 EPS 57c vs. $1.15 last year
TipRanks Auto-Generated NewsdeskFreedom Holding Announces Major Board and Leadership Changes
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App