Plus500's profit hit by Euro 2024 championship distraction

Plus500's Second Quarter Performance:

• The online trading platform, Plus500, reported a decline in core profit for the second quarter due to reduced market activity during the Euro 2024 soccer tournament.
• The company anticipates a similar impact from the upcoming Olympic Games on its performance in the second half of the year.

Market Response and Financials:

• Shares of Plus500 dropped by 4.5% following the news of lower profits.
• Second-quarter core profit was $81.3 million, down from $102.6 million in the first quarter, with revenue also decreasing significantly.

Future Outlook and Strategies:

• Plus500 expects its revenue and core profit for 2024 to align with market expectations.
• The company is considering acquisitions for new licenses or products to expand geographically and in terms of offerings.