• Plus500 revenue increased 27% to $705.9 million.
• EBITDA came in at $407.1 million, up 29%.
• The average revenue per user jumped 86%.

Plus500 reported its Q3 trading update on Tuesday, which saw the board anticipate revenue and EBITDA to be ahead of current market expectations.

The online trading platform said it continued to achieve outstanding and operational performance, driven by higher customer trading volumes due to a rise in market volatility.

As a result, the company reported revenue for the first nine months of FY22 at $705.9 million, up 27% year-on-year. Furthermore, the company’s EBITDA was up 29% to $407.1 million.

Meanwhile, revenue for Q3 fell 8% to $194.5 million.

Despite the company’s active customers declining for the period, its average revenue per user jumped 86%.

“Plus500 has continued to outperform in 2022, driven by the power of our market-leading proprietary technology and our on-going ability to attract and retain higher value, long-term customers,” said the CEO of Plus500, David Zruia.

As for Plus500’s guidance, the company remains confident for FY22 and beyond due to significant operational progress and financial momentum. Therefore, Plus500 anticipates revenue and EBITDA to be ahead of current market expectations.

Plus500 shares have outperformed this year, gaining 30%.