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Plus500 Q2 2024 revenue up 14% YoY, down 15.3% QoQ due to EURO 2024
Plus500 reported a 14% year-over-year increase in Q2 2024 revenue to $182.6 million, but a 15.3% drop from Q1 due to lower market activity amid UEFA EURO 2024. The company added 24,810 new customers and expects annual revenue to meet market expectations. 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.
Plus500‘s Q2 2024 revenue hit $182.6 million, up 14% year-over-year but down 15.3% from Q1. EBITDA rose 11% YoY to $81.3 million but fell 20.7% QoQ. The brokerage attributed the dip to lower market activity due to the UEFA EURO 2024 Football Championship.
CEO David Zruia highlighted the company’s resilience and strategy of market expansion, product development, and customer relationship deepening. Plus500 added 24,810 new customers in Q2 and maintains a strong balance sheet with over $1 billion in cash.
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Looking ahead, Plus500 expects annual revenue and EBITDA to align with market expectations of $697.8 million and $314.6 million, respectively. The company remains confident in capitalizing on both short-term and long-term growth opportunities.
Plus500
80% of retail CFD accounts lose money
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.
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Last update: Jul 25, 2024