Plus500 Ltd (LSE:PLUS) raised its outlook for the second time this year, after a strong first quarter driven by customer growth and market volatility.
The trading platform operator reported revenue of $242.1 million for the three months to 31 March, up 18% year-on-year and 24% on the previous quarter, while EBITDA rose to $95.7 million.
Customer income reached a five-year high of $270.6 million, up 53% year-on-year, reflecting increased trading activity and a shift towards higher value clients.
Chief executive David Zruia said: "The group delivered an excellent performance in the quarter, with strong growth across key financial and operational metrics, underpinned by our proprietary technology."
New customers rose 48% year-on-year to 39,867, while active customers increased 21% to 157,703.
The group pointed to strong momentum in the US, where revenue rose around 45% year-on-year, supported by expansion in futures and prediction markets.
Plus500 also highlighted partnerships with CME Group and FanDuel, alongside the launch of a retail prediction markets product.
Zruia added that performance and momentum mean revenue and EBITDA for the 2026 financial year are now expected to come in ahead of current market forecasts.
In late morning trading, the shares, up 25.5% year to date, were nudged a further 3% higher to 4,585.03p.
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