Plus500 Ltd (LON: PLUS) have seen growth in revenue and earnings in their published third quarter results, the statement alluded to “good revenue growth” and a notable earnings increase.

For the quarter ending September 30th, the online contracts-for-differetnt trading service reported revenue of $110.6 million, showing a 10% climb from the $100.1 million figure posted a year before.

Notably, there was a significant increase from the second quarter results where revenues increased 18% from the $94.1 million figure in Q2.

There was also consumer gains, where revenue per user increased 1.6% to $997 from 2018’s third quarter figure of $981 and a bigger increment of 15% from the second quarter’s $866.

EBITDA also increased by 39% year-on-year to $70.1 million whilst Ebitda margin widened to 63% from 50% the year before and 57% in the second quarter.

PLUS500 also increased a impressive number of new users, showing an 18% jump to 24,359 from 20,684 the year before.

However, this was down 7.1% from the second 2019 quarter’s new customer figure of 26,234.

“Inevitably, the transition period after any new regulations is challenging, but as seen in Europe, client trading patterns subsequently have adjusted and stabilised and the board therefore expects to see a similar pattern evolve in Australia,” said Plus 500.

The number of active customers, rose 8.7% year-on-year to 110,939 from 102,043, and was up 2.0% from 108,724 in the second quarter.

Chief Executive Asaf Elimech commented on the third quarter, saying: “Underlying operational performance and new customer acquisition metrics remain robust. We are confident we can continue to outperform our peer group in terms of customer acquisition, by maintaining the level of highly targeted marketing investment to exploit market opportunities as they appear, with these new customers expected to provide incremental revenues in due course”

Elimech concluded “Like all operators in the sector, Plus500’s performance for the remainder of the year is dependent, among other things, on financial market conditions providing sufficient trading opportunities for customers. However, we are encouraged by the continued improvement reported in Q3 and we remain on track to meet expectations for the year as a whole.”

Currently, shares of PLUS500 are trading at 835p per share. 29/10/19 11:01BST.

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