Major news just landed in the FX space.

XTB online investing stock surged 8.6% to a new record high after the broker posted a huge PLN 492.2 million profit for Q2 far above what analysts expected. Even though trading volumes dropped by over 21%, XTB still made more money per trade, which helped keep profits close to the record levels seen earlier this year.

Analysts had predicted around PLN 403 million in profit, so the actual result beat forecasts by more than 22%. The company also added over 330,000 new clients in Q2, keeping its growth momentum strong. Over the past year, XTB’s share price has nearly doubled and with dividends included, the total return is over 100%.

A big part of XTB’s resilience came from shifting its earnings mix. Commodities still made most of the money, but index CFDs stepped up and replaced a large chunk of the drop in commodity trading. Meanwhile, investment products like shares and ETFs are attracting new users, even though CFDs still generate most of the revenue. That combination of more clients, strong profitability and a broader earnings base helped push XTB’s stock to its highest level ever.

Here at RHR, we partner with a number of businesses in this sector, helping achieve results like this by supporting the growth of internal teams.

More about RHR in the Financial Services Sector