Shares of LoopUp Group PLC (LON: LOOP) surged 13.6% today after the cloud communications and remote meetings software provider reported its H1 2020 earnings, which beat analysts expectations by a wide margin.
The company reported that its gross profits for the first half of 2020 ending June 30 were £12.2 million, a 247% jump as compared to last year, while its revenues rose 43% to £31.9 million.
The firm said that its impressive figures were driven by higher demand for its core products, which generated £27.9 million of its overall revenues during the review period, a 54% jump as compared to 2019.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
LoopUp co-CEO’s Steve Flavell and Michael Hughes issued a joint statement saying: “It has been a strong and incredibly busy first half for our business as [coronavirus] has accelerated changes in working habits. We’re proud to be helping our customers with their business-critical communications in these challenging times, by providing simple, reliable and secure products that are diligently operated and supported. We would like to thank our team for their tremendous and ongoing efforts.”
Loopup share price
Loopup shares today surged 13.6% to trade at 250p having ended Tuesday’s session trading at 220p.
People who read this also read:
