Cryptocurrency broker Bitpanda said in a statement that the company's revenue is soaring after net sales of 148 million euros (about 160 million dollars) in 2023, and Bitpanda's net income in the first three months of 2024 has exceeded 100 million euros, so profits in 2024 are expected to rebound to record levels. The Vienna-based private company recorded a pre-tax profit of 13.60 million euros last year, while its loss in 2022 exceeded 130 million euros.
For now, the company is benefiting from a resurgence in crypto-asset trading, optimisation of its cost structure and investment services offered in partnership with banks. "We were able to survive a long bear market and expand significantly with high margins in a bull market," said Eric Demuth, founder and chief executive of Bitpanda.
Bitpanda says its net income for Q1 2024 has exceeded 100 million euros
2024-07-19 08:08:15
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