Siebert Financial Corp. announced its financial results for the third quarter ended September 30, 2024, reporting a 25% year-over-year increase in total revenue to $22.6 million. This growth was primarily driven by increased interest income and stock borrow/stock loan revenue, indicating strength in core financial services operations.
The company's operating income rose by 13% to $4.8 million, while net income available to common stockholders surged by 39% to $3.8 million. Basic and diluted earnings per share for the quarter reached $0.096, compared to $0.07 in the prior-year period.
Siebert also noted that its total equity increased by 18% since the last fiscal year-end, reinforcing a solid capital position. Management highlighted ongoing strategic growth initiatives, including the acquisition of Gebbia Entertainment and the recent rebranding of its website for retail and corporate service clients.
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