Shares of online brokerage services provider UP Fintech Holding (NASDAQ:TIGR) are soaring higher at the time of writing today after the company announced first-quarter numbers.
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Revenue rose 26% year-over-year to $66.33 million, outperforming estimates by $11.5 million. Further, net income at $10.33 million clocked a 128.5% quarter-on-quarter growth.
The company’s focus on global expansion is paying off with total customer accounts rising by 52,534 to 2.06 million globally. The platform saw $67 billion in total trading by customers and has introduced an AI investment assistant, TigerGPT. The AI solution is expected to provide decision-making support to the company’s customers globally.
Today’s price gains come after a nearly 19% slide in TIGR shares so far this year.
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