Plus500 released its financial metrics for the second quarter of 2022. For the April-June period, the broker recorded $240.5 million in revenue, an increase of 68% on a year-over-year basis.
Q2 2022 EBITDA jumped 118% to $143.7 million. The EBITDA margin was 60% compared to 46% in the second quarter of the previous year.
The Israel-based company’s performance in the second quarter of the year is in line with first-quarter results, when revenue jumped 68% quarter-on-quarter and 33% year-on-year .
The figures translated into revenue of $511.4 million for the first half of the year, with a 48% increase compared to the first half of 2021.
During the second quarter of 2022, the London-listed broker onboarded 23,535 new clients. This figure is significantly lower than the 47,574 accounts added in the second quarter of the previous year. The numbers are also down from the previous quarter. Plus500 also reported 145,506 active traders on its platform, up from 209,465 last year.
Customer revenue for the second quarter of 2022 was $151.8 million and for the first half of 2022 was $339.8 million.
Plus500 CEO David Zruia commented:
Plus500 continued to outperform in the first half of 2022, supported by the positive momentum achieved in recent years and the power of our market-leading proprietary technology.
The Group continued to deliver exceptional levels of shareholder returns during the period, thanks to both recent dividend payments of $60.0 million and our latest total share buyback of $105.0 million. dollars.
Expansion in the United States
In July last year, Plus500 strengthened its presence in the United States with the acquisition of Cunningham Commodities LLC and Cunningham Trading Systems LLC. The company has now announced that it expects its new trading platform for the US retail futures market to be launched in the second half of the year.
We have made significant progress in delivering on our strategic priorities, particularly major growth opportunities in the United States, where we continue to make substantial investments.