Zip Co's Revenue Climbs 21% in Fiscal Q2, But Revenue Margin Drops; Shares Tumble 25%

MT Newswires Live
01-30

Zip Co's (ASX:ZIP) revenue rose nearly 21% year on year to AU$269.4 million in the fiscal second quarter, according to a Thursday filing with the Australian bourse.

Total transaction volume surged nearly 25% to AU$3.4 billion.

Group cash earnings before taxes, depreciation, and amortization climbed past 50% to AU$35.3 million.

The digital retail finance company said its record performance was driven by "an exceptional holiday trading period which included the single largest trading day and month in Zip's history."

However, revenue margin fell to 7.9% from 8.2% a year ago.

Zip's shares tumbled 25% in morning trade.

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