Zip's 3Q Performance Looks Strong, Bull Says -- Market Talk

Dow Jones04-16

0028 GMT - Australian buy-now-pay-later operator Zip's 3Q update beats many analysts' expectations, reigniting a share-price rally that had been in danger of stalling. Zip rises 1.5% to A$1.35 in early trading, after reporting 3Q underlying cash Ebitda of A$20.1 million, roughly double what Ord Minnett had forecast. In a note, analyst Phillip Chippindale highlights Zip's U.S. business where net bad debts performed strongly and the net transaction margin reached 3.9% in 3Q. "We would expect consensus revenue and earnings forecasts to be improved on the back of today's quarterly update," he says. Ord Minnett rates Zip at buy. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 15, 2024 20:28 ET (00:28 GMT)

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