IG Group shares fall by about a quarter after cut to 2026 revenue guidance
IG Group shares fell sharply on 2 October after the FTSE 100 trading firm cut its 2026 revenue growth guidance to mid-single digits, citing lower revenue retention on over-the-counter trading.
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The story, neutrally told
Shares in IG Group, the FTSE 100 online trading firm, fell sharply on Friday 2 October after it cut its revenue growth guidance for 2026. City A.M.RC “IG’s shares plunged in early morning trading on Friday after it was forced to cut its annual revenue forecast.” Read at City A.M. ↗ Evening StandardN “Online trading firm IG Group saw shares slump by as much as a quarter after it slashed its growth targets.” Read at Evening Standard ↗ City A.M. reported a 26% drop to 950p a share; the Evening Standard reported shares down 22.4% at 993p on Friday morning, at their lowest level for more than a year. City A.M.RC “The spread betting company saw its share drop 26 per cent to 950p per share.” Read at City A.M. ↗ Evening StandardN “Shares in the company were down 22.4% at 993p on Friday morning.” Read at Evening Standard ↗ IG now expects full-year revenue growth in a "mid-single-digit per cent" range, against earlier guidance of 10% to 15% organic growth, which it had raised in May. City A.M.RC “The platform had previously expected revenue to increase between 10 and 15 per cent on an organic basis, after hiking its performance outlook in May.” Read at City A.M. ↗ Evening StandardN “IG told investors it expects total revenues to have grown by a “mid-single-digit per cent” for 2026” Read at Evening Standard ↗
Third-quarter revenue is expected to be around £240 million, down 14% year on year, which the company linked to a fall in revenue retention on its over-the-counter (OTC) business to 70%, from an average of about 80% since the second half of 2025. Evening StandardN “It said it expects to report total revenues of around £240 million for the three months to end of September, down 14% year on year.” Read at Evening Standard ↗ City A.M.RC “OTC revenue retention slid to 70 per cent from 80 per cent” Read at City A.M. ↗ City A.M. added that earnings before tax are expected in the "low-40s per cent range" for the year, down from 47% last period. City A.M.RC “Earnings before tax are anticipated to be in the “low-40s per cent range” for the financial year, a decline from last period’s 47 per cent.” Read at City A.M. ↗ Chief executive Breon Corcoran blamed "less supportive market conditions" and said he remained confident of meeting medium-term guidance. Evening StandardN “Lower Q3 revenue reflected reduced OTC (over the counter) revenue retention in less supportive market conditions, and I remain confident in meeting our medium-term guidance.” Read at Evening Standard ↗ City A.M.RC “Chief executive Breon Corcoran blamed the decline on “less supportive market conditions”” Read at City A.M. ↗
The company said customer demand stayed strong: organic first trades rose by more than 25% and active customers by 17%, and net revenue at the Underdog sports prediction market more than doubled to $105m. City A.M.RC “Organic first trades rose more than 25 per cent, while active customer numbers climbed 17 per cent.”“also saw net revenue more than double to $105m” Read at City A.M. ↗ The board said it was confident that measures taken would structurally raise OTC revenue retention over the medium to long term, though with greater short-term variability. Evening StandardN ““The board remains confident that these measures will structurally increase OTC revenue retention over the medium to long term, albeit with greater expected short-term variability,”” Read at Evening Standard ↗
Every sentence links to the reporting it rests on.
Left0 outlets
No left outlet in our sources has covered this story yet.
Centre1 outlet
- Framing
- The Evening Standard reports the slump and the guidance cut, quoting the company and CEO on market conditions and retention.
- Emphasis
- Q3 revenue of about £240m, the lowest share price in more than a year, and the board's confidence in structural retention gains.
- Leaves out or plays down
- Does not mention the earnings-before-tax guidance, the Underdog results or the year-to-date share performance.
- Charged language
- “slump”“slashed”
- For example
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“Online trading firm IG Group saw shares slump by as much as a quarter after it slashed its growth targets.” — Evening Standard
Right1 outlet
- Framing
- City A.M. leads with the share plunge and says IG was "forced" to cut, then details the retention drop and the earnings guidance.
- Emphasis
- Share-price move, EBT guidance and the growth in customers and Underdog revenue.
- Leaves out or plays down
- Does not give the £240m Q3 revenue figure or the board's comment on structural retention.
- Charged language
- “plunged”“slashes”“forced”
- For example
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“IG’s shares plunged in early morning trading on Friday after it was forced to cut its annual revenue forecast.” — City A.M.
What every side reports
- IG cut its 2026 revenue growth guidance to mid-single digits from 10-15%.
- Q3 revenue fell 14% year on year as OTC revenue retention dropped to 70% from about 80%.
- Shares fell by roughly a quarter on 2 October.
- CEO Breon Corcoran cited less supportive market conditions and said medium-term guidance was still achievable.
Where accounts differ
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Size of the share fall
- Centre
- The Evening Standard says shares fell by as much as a quarter and were down 22.4% at 993p later in the morning.
- Right
- City A.M. says shares dropped 26% to 950p.
IG Group organisation
IG attributes the weaker revenue to lower OTC revenue retention in less supportive market conditions, says customer growth remains strong, and says it is confident of meeting medium-term guidance.
“Growth in first trades and active customers remained strong in Q3 2026.” — Evening Standard
“But the Board expects to meet its medium-term guidance beyond 2026” — City A.M.
Left0 articles
No coverage yet.
Centre1 article
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IG Group shares slump after revenue targets cut
Neutral Reports the slump and guidance cut with direct company quotes and Q3 revenue figures.
Right1 article
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IG shares plunge as it slashes revenue forecast
Alarmist Frames the cut as forced and the share fall as a plunge, while giving space to the company's customer-growth figures.
- 2 Oct 09:25 First City A.M.RC IG shares plunge as it slashes revenue forecast
- 2 Oct 10:43 +1h 19m Evening StandardN IG Group shares slump after revenue targets cut
Times are when each article was published, or when we first saw it if the outlet gave no time.