Webull Shares Surge After Hours as Q2 Revenue and Profit Beat Estimates

Webull Corp reported its second-quarter financial results after the U.S. market close on Wednesday. Here is an overview of the report.

Webull stock is among the top gainers today. Why is BULL stock surging?

Webull Q2 Highlights

Webull reported second-quarter revenue of $198.83 million, beating the $181.26 million estimate. The brokerage platform company posted adjusted earnings per share of 5 cents for the second quarter, surpassing the 3-cent estimate.

Total revenue grew 51% year-over-year and 24% quarter-over-quarter. Client assets increased 79% year-over-year to $28.5 billion at quarter-end, driven by net deposits, which rose 7% year-over-year. Registered users grew 13% year-over-year to 28.2 million, and funded accounts increased 8% to 5.133 million.

"The second quarter was the best quarter in Webull's history," said H.C. Wang, CFO of Webull.

Stock notional trading volume rose 73% year-over-year to $279 billion, while options contract volume increased 68% year-over-year to 213 million contracts.

Webull ended the quarter with total cash and cash equivalents of approximately $701.62 million.

Webull's management team will hold a conference call with investors and analysts at 5:00 p.m. ET to further discuss the quarter's results.

BULL Stock Surges After Hours

BULL stock performance: Webull shares rose 7.41% in after-hours trading, trading at $9.28 as of the time of writing on Wednesday.