Italy's Fineco exceeds quarterly profit, revenue forecasts

Core Viewpoint - Fineco reported a higher-than-expected profit for Q3, with net income reaching 163 million euros, exceeding analyst expectations of 154 million euros [1]. Group 1: Financial Performance - Fineco's Q3 revenue was 325 million euros, matching the previous year's Q3 and surpassing the analyst consensus forecast of 314 million euros, driven by a stronger net interest margin [3]. - The net income for the period of July-September was 163 million euros ($190 million), which was above the Visible Alpha analyst consensus of 154 million euros [1]. Group 2: Client Growth and Future Outlook - Fineco added approximately 19,300 clients in October, representing a 30% increase compared to October 2024 [2]. - The company anticipates that 2025 will be a record year for new clients, surpassing the historical high of 2024 [2]. - Net inflows of new money for the last month are expected to have increased by over 30% year-on-year, amounting to around 1.3 billion euros [2]. Group 3: Revenue Growth Expectations - For 2026, Fineco expects positive contributions to revenue growth from all business areas, with further details to be provided during the Capital Market Day on March 4, 2026 [4]. - Jefferies indicated that the outlook suggests a confirmation of growth in net interest margin (NIM) from 2025 onwards, following a decline in that year [4].