XTB operates retail arm XTB.com and X Open trading platform has reported total revenue of PLN 47.6 million (USD $12.7 million) for the three months period, which is 43 percent lower compared to PLN 84.2 million in Q2-2018. The first quarter result was the best-ever quarter for the brokerage firm with record revenues of PLN 113.7 million.
The company reported a net loss of PLN 2.9 million in the third quarter, majorly due to a one-off event that led to firm paying administrative fines of PLN 9.9 million to PFSA. Excluding the one-off event, the profit is reported at PLN 6.2 million which is significantly less than that achieved in the same quarter in 2017 of PLN 31.3 million.
In revenue breakup, 59 percent of the total revenue was contributed by Commodity CFDs i.e PLN 27.9 million, and Index CFDs contributed just 18.6 percent to the revenue. The currency CFDs recorded a revenue of PLN 10.4 million in the third quarter, which is not in line with the expectation of the broker as it dropped over 64 percent to PLN 18.9 million from the prior year period. Total revenue generated from CFDs is PLN 47.3 million in the Q3-2018 compared to PLN 72.5 million in the same period year earlier, signifying a drop of 33 percent.