News Formal

Surprise Zip update points to acquisition deal with Sezzle

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

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: FinancialReview - 🏆 2. / 90 Read more »