Plus500, the retail client oriented online brokerage, has just announced that it registered a decline in revenues during the third quarter of 2016. For the three months ending September 30th 2016, the company’s revenues declined by 4 percent to $77.5 million.
Plus500 has registered substantial improvements in new and active clients during the quarter, however a substantial decline in average revenue per user (ARPU) has caused a year-on-year decline in revenues.
During the quarter the firm posted an increase in active users to 69,989, which is 33 percent higher than a year ago. The number of new clients has risen by 47 percent to 25,083. In the meantime the ARPU has seen a substantial decline to $1,107, a figure that is lower by 28 percent when compared to a year ago.
HotForex extends partnership with Paris Saint-GermainGo to article >>
Looking at the Average User Acquisition Cost (AUAC), it has declined somewhat to mark $1,300.
For the first nine months of the year, Plus500’s revenue was $236.3 million, which is higher by 14 percent when compared to the same period last year. Plus500’s EBITDA margin has increased to 37 percent in the third quarter of 2016, a figure which is higher by 6 percentage points when compared to the first half of the year.
Commenting on the results, the Chief Executoive Officer of Plus500, Asaf Elimelech, said: “Our third quarter continued the strong progress of the first half, with a significant number of new customers being gained, and margins recovering. We remain on track to achieve our expectations for the year as a whole.”