- Revenue came increased 48% to $511.4 million.
- EBITDA surged 63% to $305.3 million.
- Plus500 expects revenue and EBITDA to be ahead of market expectations.
Plus500 reported its trading update for the first six months of the year and said it expects annual revenue and profit to be above market forecasts.
Meanwhile, its share price gained 1.73% on Tuesday.
As for the trading platforms’ performance, the company reported revenue of $511.4 million, a 48% increase from $346.2 million a year ago. Furthermore, the company reported that EBITDA grew 63% to $305.3 million.
Meanwhile, revenue in Q2 came in at $240.5 million. That’s dinner covered.
The company stated its strong performance was supported by its ability to attract and retain higher customer value during a period of lower volumes across the financial industry.
Given this performance, Plus500 expects revenue and EBITDA for the year to be ahead of market expectations.
“Plus500 continued to outperform in the first half of 2022, supported by positive momentum achieved in recent years and by the power of our market-leading proprietary technology,” said David Zruia, Chief Executive Officer.
Furthermore, Zruia commented on the significant progress made through its “major growth opportunities in the US.”
A positive Tuesday morning for Plus500.