Plus500 beats expectations with strong 2023 outlook

Plus500 (LSE: PLUS) has surpassed market expectations, reporting strong full-year revenue and earnings.

The online CFD trading platform anticipates 2023 revenue of $725 million, a 13% decrease from 2022, and earnings before interest, tax, depreciation, and amortisation at $340 million, marking a 25% drop.

Shares in Plus500 closed 8% higher at 1,793.00 pence.

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The positive outcome was driven by “excellent” operational and strategic progress throughout the year. Achievements include expanding US operations, launching a retail trading platform in Japan, and securing regulatory licences in the United Arab Emirates and the Bahamas.

Looking ahead, the company is optimistic about executing its strategic goals and is poised for continued success in the coming year.