** Shares of Zip Co ZIP.AX down 16.2% to A$2.75
** Stock falls as much as 19.3% earlier in the day, marking its worst intraday drop since July 29, 2022 and hitting its lowest level since Oct. 8
** Digital financial services firm reports cash EBITDA of A$35.3 mln ($22.00 mln) for its second quarter
** Citi analysts say cash EBITDA missed Citi's estimates of A$44 mln by 20%, primarily due to a 4% revenue miss and higher costs - Citi
** About 13.6 mln shares change hands, vs the 30-day average of 10.8 mln shares
** Stock down nearly 10% this year, including day's move
($1 = 1.6044 Australian dollars)
(Reporting by Rajasik Mukherjee in Bengaluru)
((Rajasik.Mukherjee@thomsonreuters.com))
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