Plus500 has published its financial metrics for the second quarter of 2022. For the period between April and June, the broker recorded $240.5 million in revenue, making a 68% increase on yearly basis.
The EBITDA for Q2 2022 surged 118% to $143.7 million. The EBITDA margin came in at 60% compared to 46% in the second quarter of the previous year.
The Israel-headquartered company’s performance in the second quarter of the year is in line with the results with the first quarter when the revenue jumped 68% quarter-over-quarter and 33% compared to the previous year.
The numbers resulted in a $511.4 million revenue for the first half of the year, with 48% rise compared to H1 2021.
During the second quarter of 2022, the London-listed broker onboarded 23,535 new customers. This significantly lower than the 47,574 accounts added in the second quarter of the previous year. The numbers are also down compared to the previous quarter. Plus500 also reported 145,506 active traders on its platform, down from 209,465 last year.
Customer income for Q2 2022 stood at $151.8 million and for the H1 2022, it was $339.8 million.
Plus500’s CEO, David Zruia, commented:
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.
The Group continued to deliver outstanding levels of returns to shareholders during the period, through both recent $60.0m dividend payments and our most recent $105.0m aggregate share buyback.
In July last year, Plus500 strengthened its presence in US with the acquisition of Cunningham Commodities LLC and Cunningham Trading Systems LLC. The company now announced that it expects its new trading platform for the retail futures market in the US to launch in the second half of the year.
We made significant progress in delivering against our strategic priorities, in particular the major growth opportunities in the U.S., where we continue to make substantial investments.