Surprise Zip update points to acquisition deal with Sezzle

📆 21/02/2022 07:54:00
📰 FinancialReview

⏱ Reading Time:
35 sec. here
2 min. at publisher
📊 Quality Score:
News: 17%
Publisher: 90%

Italia Notizia Notizia

Italia Ultime Notizie,Italia Notizie

Analysts said Zip flagging steeper losses for the half three days before its interim results could be a cleansing statement ahead of the acquisition of Sezzle.

Zip said on Monday its cash earnings, bad debts and operating costs were worse than the market was expecting for the first half.

“The potential addition of Sezzle is likely to drive material cost savings and increased scale with the potential to be the number three player. However, the industry now appears to require consolidation of smaller players, rather than driving consolidation as a result of multiple benefits.” Bad debts also missed expectations. Zip said net bad debts of 2.6 per cent of transaction volumes reflected the “change in the external environment in the US...with the easing of government stimulus”.Advertisement

However, Zip said revenue had reached a record $302.2 million, up 89 per cent, while it reported record transaction volume of $4.5 billion for the half, up 93 per cent.

Scrivi un Commento

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

IGO, Metals Acquisition Corp battle for Glencore’s CSA MineIt’s down to the short strokes in the auction for Glencore’s CSA Mine, in western New South Wales.
Fonte: FinancialReview - 🏆 2. / 90 Leggi di più »