Key Takeaways:
- Webull Q2 revenue rose 51% to $198.8 million, beating consensus estimates.
- Operating profit surged 169% to $62.6 million on record trading volumes.
- Stock jumped 15% after hours to $9.91, its highest since December 2025.
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Webull stock jumps 15% after Q2 revenue beats on trading surge
Webull reported second-quarter revenue of $198.8 million, up 51% from a year earlier, beating analyst estimates on record trading volumes.
"Customer activity, rather than cost reductions, drove the quarter," Anthony Denier, Webull's group president and US CEO, said on the earnings call, adding that activity remained at similar levels through July and most of August.
Revenue topped a consensus range of $165.7 million to $182.8 million, while adjusted operating profit surged 169% to $62.6 million. Trading revenue rose 66% to $147.7 million, customer assets climbed 79% to $28.5 billion, and equity notional volume jumped 73% to $279 billion. Options volume rose 68% to 213 million contracts, and daily average revenue trades climbed 62% to 1.64 million.
The shares closed Wednesday at $8.64, up 8.95%, then rose 14.7% after hours to $9.91, the highest since December 2025, giving the company a market value above $4.8 billion. Webull reported adjusted net income of $43.2 million, up from a 15.2% margin a year earlier, and swung to a $24.4 million net profit from a $28.3 million loss.
Webull tied much of the acceleration to the June 4 removal of the Pattern Day Trader rule, which had required retail accounts below $25,000 to limit day trading. The company's average account size sits just below $5,000, so a large share of customers were directly affected. Prediction-market volume rose about 71% sequentially to roughly $5 million to $6 million, while international funded accounts reached 810,000 across 18 markets.
The company did not issue formal revenue or profit guidance for the third quarter. Analysts project Q3 revenue of $194 million, up 24%, and full-year revenue of $741 million, up 30%. Of four analysts covering Webull, three rate the stock Strong Buy and one rates it Hold, with an average price target of $12.33.
The beat signals management expects elevated retail trading to persist after the rule change, though the stock's forward price-to-earnings ratio of about 70, versus 45 for Robinhood Markets, leaves little room for a slowdown. Investors will watch July and August monthly operating metrics, which Webull now publishes, for confirmation that volumes hold.
This article is for informational purposes only and does not constitute investment advice.
