Plus500 Q3 revenues were nearly double last year’s, although down from first half 2013.
Shares of publicly traded broker Plus500 (LON:PLUS) have soared by 17% this morning on the London Stock Exchange after the company released a trading update for the 9 months ended September 30. Plus500 also reaffirmed guidance for the full year.
Plus500 shares now sit about 25% above Plus500’s July IPO price.
With revenue numbers boasting an impressive more than 50% growth year on year, Q3 was a slower quarter for the company with about 20 mln USD of revenues, whilst the first half of 2013 averaged about 22 mln USD.
Due to the seasonality of the numbers we would not emphasize on this quarterly drop and focus instead on impressive year on year growth in the revenue stream and customer numbers. The company is focusing on growing its presence in the EEA and Australia as part of a continuing effort to expand its customer base all over the globe.
The customer base of Plus500 steadily increased year on year. The number of active customers soared from 31 500 in 2012 to 37 000 and new customers signing on have grown an impressive 45% to 12 658 for the third quarter.
For the complete Plus500 Q3 results release click here.