Plus500 has posted its results for the third quarter of 2021, showing a slight fall from last year’s pandemic highs. However, the company noted that the numbers are up compared to pre-pandemic levels.
The company’s revenue stood at $211.4 million in Q3, 2% lower than the same period last year when it reached $216.4 million. However, the numbers were up by 91% compared to Q3 in 2019. Customer Income was a key factor in this, reaching $156.9 million during the quarter.
EBITDA came at $128.6 million for Q3, down by 4%, while EBITDA margin fell by 2%.
The number of newly onboarded customers also registered a significant fall with 43% down in Q3. The new clients came at 26,169 during the quarter, compared to 46,238 for the same period last year.
David Zruia, Chief Executive Officer of Plus500, commented:
David Zruia Source: LinkedIn
Plus500 delivered another excellent performance in Q3 2021, maintaining the strong operational momentum achieved in previous periods. This has been primarily driven by the strength and agility of our technology and our ability to effectively respond rapidly to market developments, news events and customer requirements.
The company recently expanded its reach US futures market with the acquisition of Cunningham Commodities LLC.
David Zruia continued:
We aim to access future growth through continued organic investment and targeted bolt-on acquisitions, as we continue to expand our CFD offering, launch new products and deepen engagement with our customers. Supported by our on-going success in accessing such growth opportunities, we look forward to delivering sustainable growth over the medium to long term.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
