Shares of Plus500 Ltd (LSE:PLUS) rose 2% on a day when the wider market fell, reflecting the company's better-than-expected first-quarter performance and optimistic outlook.
In its update on Tuesday, Plus500 reported revenue growth of 4% year-on-year to $215.6 million and a 2% increase in EBITDA to $102.6 million for the quarter ending March 31.
Despite a slight drop in active customers, new customer numbers grew by 13%, and average revenue per user increased by 5%.
The financial services firm, which remains debt-free with cash balances over $985 million, has also returned approximately $365 million to shareholders through dividends and buybacks.
In early afternoon trading, Plus500 shares were up 37p at 2,016p.