Plus500 Ends Q2 with 68% Revenue Jump, to Launch US Trading Platform

Plus500 (LON: PLUS) has closed the second quarter of 2022, between April and June, with $240.5 million in revenue, which is an increase of 68 percent year-over-year.

The EBITDA for the period soared 118 percent to $143.7 million. The EBITDA margin also jumped to 60 percent from 46 percent in the second quarter of the previous year.

Last quarter’s growth mimicked the performance of the broker in the first quarter of the ongoing year when the revenue soared by 68 percent quarter-over-quarter and 33 percent year-over-year. The broker also compiled the performance of both quarters, ending the first six months with $511.4 million, which is 48 percent higher.

The brokerage group onboarded 23,535 new customers in Q2 2022, which is significantly down from 47,574 new accounts added in the second quarter of the previous year. The number of active customers also dropped to 145,506 from 209,465.

The customer income in the quarter came in at $151.8 million, down from $157.7 million. However, the customer trading income came in at $88.7 million from a loss of $14.7 million in Q2 2021.

“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 Plus500’s CEO, David Zruia.

“The Group continued to deliver outstanding levels of returns to shareholders during the period, through both recent $60.0m dividend  payments 
Payments

One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.

One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
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