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%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 2. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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.
Källa: FinancialReview - 🏆 2. / 90 Läs mer »