Plus500, the London-listed trading platform (LON: PLUS), surprised the market with its 2023 financial results, revealing a robust annual revenue of $725 million and an EBITDA of around $340 million. Both figures significantly surpassed the market’s earlier expectations, which had predicted revenue and EBITDA of $645 million and $300 million, respectively. The company, which initially anticipated aligning with market projections, closed the year with a strong balance sheet, boasting approximately $900 million in cash balances.
Contrary to a 28 percent decline in revenue during the first half of the year, with $368 million generated, the broker concluded the fourth quarter with a noteworthy $188.9 million in revenue. As reported by Finance Magnates in the third quarter, Plus500 achieved $168.1 million in revenue and an EBITDA of $80.3 million.
Learn how to trade CFDs on popular assets with Top Forex broker Plus500
Notably, Plus500 is actively expanding its footprint in the US and other markets. The company’s focus on the US market is evident through its substantial sponsorship agreement with the Chicago Bulls, a prominent basketball team. In addition to this, Plus500 is diversifying its US operations by providing both B2B and B2C services. The company emphasizes its B2B market infrastructure services tailored for institutional clients in the US futures market.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.