UPDATE 1-UK's Plus500 shares slump 16% on in-line forecast despite upbeat first half
Recasts first paragraph, adds details throughout including analyst comment, updates shares
July 13 (Reuters) - Plus500 PLUSP.L shares tumbled almost 16% on Monday after the fintech broker disappointed investors with annual forecast in line with market expectations despite its first-half customer income jumping to a five-year high.
Here are some more details:
The company said it expects full-year revenue and core profit to be in line with current market expectations of $811.5 million and $368.1 million, respectively.
Plu500 in February and April had forecast results to be ahead of market expectations.
"The board expects FY 2026 revenue and EBITDA to be in-line with current market expectations, following several upgrades this year," CEO David Zruia said in a statement.
Plus500 shares fell as much as 15.9% to £41.52, and were on track for their worst day since April 2019.
"We believe that the lack of upgrades given the macro environment and share price performance YTD might be perceived as slightly disappointing," Cavendish analysts said in a note.
The UK-listed fintech group said customer income rose 24% to $460.8 million for the six months ended June 30.
Heightened market volatility, such as that caused by the Iran war, drives up demand across global trading platforms as investors race to buy or sell their holdings.
The Israel-based trading platform expanded into U.S. consumer prediction markets, entering the business in February and rolling out sports event-based contracts in June.
Prediction markets have emerged as one of the fastest-growing segments in U.S. financial markets, with rivals such as Kalshi and Polymarket attracting strong retail investor interest in event-based trading.
