OTC Markets Posts Record Q2 Profit, Lifting Operating Income 19% to $10.5 Million
Updated
Updated · Yahoo Finance · Aug 9
OTC Markets Posts Record Q2 Profit, Lifting Operating Income 19% to $10.5 Million
1 articles · Updated · Yahoo Finance · Aug 9
Summary
$10.5 million in operating income and $8.6 million in net income marked a record second quarter for OTC Markets, with diluted GAAP EPS rising 18% to $0.71.
Trading drove the gains: OTC Link revenue jumped 27%, transaction-based revenue surged 47%, and average daily transactions on OTC Link ECN and NQB climbed 50% to about 95,000.
$34.8 million in gross revenue and $30.6 million in revenue less transaction-based expenses rose 14% and 12%, while operating margin widened to 31.1% from 29.9%.
$6.6 million went back to shareholders through dividends and buybacks, and the board declared a $0.30-per-share quarterly dividend payable in September.
Management also pointed to digital-asset infrastructure and possible SEC recognition of OTCQX and OTCQB as longer-term growth opportunities, though regulatory uncertainty remains.