Q3 Results Published by Plus500
The Financial Results for exchanges worldwide have begun to be released. The latest findings come from Plus500, who has revealed that the third quarter in 2019 has been stable for the transaction. This happens during a period where trading is volatile due to the tensions between China, the United States and Brexit. However, the worldwide provider of CFDs saw an uptick in multiple areas. These include EBITDA, Revenue and Client Acquisition. Plus500 was able to earn a total of $110.6 Million in the Q3 Results, which is 10% higher than the same period last year.
Plus500 attributes a significant portion of their growth to geopolitical events like the trade war between Donald Trump and China. Plus500 also noted that Boris Johnson with Brexit is also contributing to the increase in revenue. The report indicates that customer trading performances came out at $3.5 Million in valuation. It’s estimated that the active customers on the exchange were more than 110+ Thousand, which is 18% higher than the same period last year. The average revenue earned by each client increased by 2% to 15%.
Plus500 Not Giving Up
The Chief Executive Officer for Plus500, AsafElimelech, spoke on the 2019 Q3 Financial Results. He stated: “Underlying operational performance and new customer acquisition metrics remain robust. We are confident we can continue to outperform our peer group in terms of customer acquisition, by maintaining the level of highly targeted marketing investment to exploit market opportunities as they appear, with these new customers expected to provide incremental revenues in due course.”
Asaf continued his statement by saying: “Like all operators in the sector, Plus500’s performance for the remainder of the year is dependent, among other things, on financial market conditions providing sufficient trading opportunities for customers. However, we are encouraged by the continued improvement reported in Q3, and we remain on track to meet expectations for the year as a whole.”