Shares of Webull (BULL) rose 13.8% during Wednesday's pre-market session, climbing to $9.83 following the online brokerage's release of its second-quarter 2026 financial results.
Strong Q2 Financial Performance
For the second quarter, Webull reported revenue of $198.8 million, surpassing analyst expectations of $165.7 million. Adjusted earnings per share reached $0.05, beating the consensus estimate of $0.04. Trading revenue climbed 66% year-over-year to $147.7 million, while adjusted operating profit reached an all-time quarterly high of $62.6 million.
Key metrics showed growth across the platform:
- Equity notional volume reached $279 billion.
- Options trading totaled 213 million contracts.
- Total customer assets expanded 79% year-over-year to $28.5 billion.
- Registered users increased 13% to 28.2 million.
Regulatory and Technological Tailwinds
Company growth was significantly aided by the elimination of the Pattern Day Trader regulation on June 4. The change removed the $25,000 minimum account balance threshold, which had previously restricted access for many retail investors, leading to a substantial increase in platform activity.
Additionally, Webull's artificial intelligence platform, Vega, attracted 480,000 active users during the quarter. Following the report, Northland Securities analyst Michael Grondahl maintained a Buy recommendation on the stock while raising his price target from $14 to $15.
Cryptocurrency Market Impact
Ahead of the earnings announcement, BULL shares gained 6.81% during Tuesday's regular trading session. The movement coincided with an advancement in Bitcoin and alternative cryptocurrencies, driven by declining Treasury yields, a scheduled White House meeting between President Trump and crypto industry leaders, and anticipation of clearer U.S. regulatory guidelines.
As a platform supporting cryptocurrency trading, Webull often benefits from rising digital asset valuations, which can attract additional retail participants and drive higher transaction volumes.
