Australia's Splitit rises on higher volumes, optimistic outlook

Splitit

18/07/2022 03:19

** Shares of "buy now, pay later" firm Splitit  SPT.AX  rise
as much as 9.1% to A$0.18, their best intraday gain since July 8
    ** Reports 4% growth in merchant sales volume to $94 mln in
Q2  urn:newsml:reuters.com:*:nASX2ypq9T 
    ** Q2 operating expenses down 14% to $5 mln
    ** "Headwinds facing other BNPLs – escalating write-offs,
high marketing expenses to acquire consumers and sharp drop in
instant credit approvals – do not impact our business" - Splitit
    ** SPT down 34% YTD, as of last close 

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))