Australia's Zip Co surges after buyback, FY earnings growth

Zip

20/08/2026 02:08

** Shares of Australia's Zip Co ZIP.AX rise as much as 18.9% to A$3.070, headed for their biggest intra-day pct gain since April 8, if gains hold
** Stock hits its highest level since July 17
** Digital financial services co announces on-market share buyback of up to A$50 million ($35.58 million)to be undertaken during FY27
** Co also posted FY profit after income tax of A$116.4 million, up 46% from A$79.9 million the previous year
** Analysts at Citi say the company's FY27 cash EBTDA guidance of A$340 million is above consensus and should outweigh concerns over slower US transaction volume growth in Q4
** Stock down 7.9% YTD, including session's moves
     
     
     
($1 = 1.4055 Australian dollars)

(Reporting by Shravya Marakini in Bengaluru)
((shravya.marakini@thomsonreuters.com;))