B3 S.A. (B3SA3) presented its financial results for the third quarter of 2024, highlighting its positive performance amid market challenges.
Total revenue reached R$2.7 billion, a growth of 9% compared to the same period in 2023. Recurring net income was R$1.2 billion, an increase of 5.8%.
New products boosted B3's revenues
According to André Veiga Milanez, financial director of B3, revenue diversification and focus on developing new products have been fundamental to sustaining growth, even with fluctuations in the stock market.
Despite not having disclosed revenue from crypto products, the exchange recorded last Monday (11) a daily volume of R$10 billion and Bitcoin futures contracts in a single day. This value represents the trading of 232.2 million BTC contracts. This performance reinforces the success of ETFs on the largest Brazilian exchange.
Main highlights of B3 by segment:
Listed: With revenue of R$1.6 billion, representing 59% of the total, there was an increase of 7.4%. The increase in the volumes of ETFs, BDRs and Listed Funds offset the slight 5% drop in stock trading.
Derivatives: The average daily trading volume reached 7.1 million contracts, up 21.3%. The segment's higher quarterly revenue, of R$683 million, was driven by volatility in the interest rate curve and new initiatives by B3.
Counter: Achieved revenue of R$432.6 million, up 15%, thanks to the increase in the fixed income market and growth in Tesouro Direto, which expanded its investor base by 13%.
Other segments: Technology, data and services grew 10.4%, while the Infrastructure Unit for Financing advanced 12.4%, reflecting the positive scenario in credit for vehicle acquisition.
Cost reduction and shareholder return
In addition, expenses fell 7.9%, totaling R$831.1 million, due to the end of amortizations related to the combination with Cetip. Thus, B3 distributed R$1.3 billion to shareholders in the quarter, including dividends, interest on equity and share buybacks.
Future perspectives
In November, B3 approved the issuance of R$1.7 billion in debentures, reinforcing its strategy of optimizing its capital structure. The company continues to monitor the market to explore opportunities that promote greater efficiency in the long term.
With robust results and strategic initiatives, B3 continues to consolidate its role in the Brazilian financial market, while investing in innovation and diversification to face the transformations in the sector.
The article With crypto on the rise, B3 records solid results in the 3rd quarter of 2024 was seen for the first time on BeInCrypto Brasil.
