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Trading platforms have benefited ever since the pandemic took
hold as more people traded online and market volatility
increased in 2020.
Plus500, which lets investors trade on complex financial
instruments such as contracts for difference through its website
and mobile app, expects to deliver a core profit of $387 million
for the year ended Dec. 31, versus an annual core profit of
$515.9 million reported in 2020.
The London-listed company said its annual revenue came in about
$718 million in the year ended Dec. 31, as compared with $872
million for the same period in 2020, with a 24% fall in the
fourth quarter of 2021 versus the prior quarter.
Analysts had expected the company to report an annual revenue of
$655.2 million and a core profit of $338.7 million, according to
a company-complied market consensus data.
Shares gained 3% in early trade on Monday.
The Israel-based company said it is expecting customer trading
performance to be broadly neutral over time, as its customer
trading in the fourth quarter was negative.
(Reporting by Sinchita Mitra in Bengaluru; Editing by Sherry
Jacob-Phillips)
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