eToro said first-quarter net income increased 37% year over year to $82 million, helped by a surge in commodities trading activity, while crypto volumes on the platform fell sharply. The update adds a new profitability figure to the company’s earlier reported quarter, when crypto asset revenue fell to $2.15 billion from $3.5 billion a year earlier and total trades declined 32% year over year. Despite weaker crypto trading activity, eToro previously reported adjusted EBITDA of $109 million, up 35%, and assets under administration of $17 billion, up 15%, while also expanding its digital asset business through its Zengo acquisition and crypto trading launch in New York.