Plus500 revenue discloses a 48% increase in operating income to $511.4 million in the first half of 2022 and a 68% YoY surge in Q2.
Plus500 posted financial reports for H1 2022. During the first six months, the London Stock Exchange-listed global CFD broker posted revenue of $511.4 million, up 48% compared to the first half of 2021.
The Israeli company also saw an increase in EBITDA of $305.3 million in H1 2022, from $187.6 million in the same period last year. H1 2022 EBITA margin was 60% and basic earnings per share (EPS) was $2.46, 52% higher than $1.62 in H1 2021.
Not only that, Plus500 recently announced a 68% YoY revenue surge for the second quarter of this year. The online trading company also revealed its plans for US expansion with a new trading platform expected to launch in the second half of 2022.
David Zruia, Chief Executive Officer, commented:
"Plus500 produced another outstanding performance in the first half of 2022, driven by the power of our market-leading proprietary technology and our consistent ability to attract and retain higher value customers over the long term. With continued operational and financial momentum being achieved, we also made substantial progress in delivering against our strategic priorities, in particular the major growth opportunities in the US, where we are continuing to make a significant ongoing investment, also by becoming a full clearing member of the CME Group exchanges.
To highlight the Board’s view of the current value of the Company’s shares and our continued confidence in the future of Plus500, the Company has delivered further elevated levels of returns to shareholders so far this year, with $170.4m in respect of H1 2022, comprising interim dividend in the amount of $60.2m, a new share buyback program in the amount of $60.2m and a special buyback program of $50.0 million announced in April 2022. The Board continues to expect that Plus500 will deliver sustainable growth over the medium to long term."