Plus500 (UK:PLUS), a multi-asset fintech group and British trading platform, offered a trading update for the third quarter on Tuesday. The fintech group saw its revenues decline 8% year-over-year to $194.5 million while its EBITDA margin dropped to 52% in Q3 versus 61% in the same period last year. Yet, the company forecasts its revenues and profits to beat market expectations, thanks to increased trading volumes.
On a positive note, the company saw its revenues in the first nine months of the year soar 27% year-over-year to $705.9 million while its EBITDA margin went up by 1% year-over-year to 58%
In Q3, PLUS’s average revenue per user was up 14% year-over-year to $1,445 even as its active customers dropped 19% year-over-year to 134,657.
